going further and further into debt

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simon.a

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Post by simon.a » Thu Apr 12, 2007 1:47 pm
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we owe over 17000 on credit cards and we are only making minimum payments with interest and spending on them each month because we are using all our cash to make the payments not leaving us anything to live on so all our shopping every month goes onto the credit cards as well so we are constantly going further and further into debt at a rate of about 400 a month or more. would there be any possobillity if my parents could lend me 75% of what i owed and then i could pay that back without all the interest would the credit card companies accept this without entering into an iva
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Welsh Boy

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Post by Welsh Boy » Thu Apr 12, 2007 2:17 pm
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simon

If you could give further details of assets and liabilities I am sure you can get the right advice her.-Tony
F.P.C. 1,2,3 Qualified
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Managing Director : Debt Advisory Bureau
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MelanieGiles

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Post by MelanieGiles » Thu Apr 12, 2007 3:46 pm
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Hi Simon

That seems a good offer which is certainly worthy of putting in front of creditors. Why not give it a go, you have nothing to lose.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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