Help needed urgently

[Mon Village]

[}:)]
Good Evening all my name is Norman i am new to this forum first i would like to say hello to everyone in here and thank Iva.co.uk for the excellent job well done.I contracted debts in 2004 worth actually £ 34,700 i was up to date with the repayements until february 2007 then i lost my job and stopped paying my creditors, i have tried to solve the problem throught a debt management plan but it failled as i have no money left to cover the repayement plan , now i am in full time job and want to resume payements through an IVA i don't know if i will have time to do this as one of my creditors is asking for a full payment through Debt managers Ltd a debt collection agency asking me to pay the full amount or they will take me to court and rattach my wages. my net monthly income is £1,711
and i am left with a disposable income of £ 192 a month i don't know if they will accept this offert (please comment) i am a private tenant with a wife and two children the only valuable item i have is this computer i am writing this message from and a car worth about £ 1000 , my creditors are as follow:

Lloyd £ 17,700
halifax £ 14,000
Mbna £ 1,800
Alliance £ 650 overdraft

please help me with your comments as i fear that the Debt collection will issue a statutory demand
Thanks in advance for your Help
Regards
Norman

NL

[chris.g]

Hiya Norman, just wanted to welcome you to the forum. Sorry I can't offer you any advice but you've come to the right place, someone here will be able to help

Learning as I go along!!!

[ray_a]

Hi Norman

The experts will look at whether an IVA would work but please don't take this wrong way you have very few assets to protect and you would most probably be allowed to keep them by the Official receiver but bankruptcy could be an answer especially as the laws are kinder for you!

Hope this helps and Good Luck

[MelanieGiles]

Hi Norman

I see no reason why an IVA would not work for you given your circumstances. Make sure that you seek a practitioner who will explain all of the options available to you and not just point you in one direction.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Soulgrowth]

Hello Norman

I'm not an expert here but I just wanted to say welcome to the forum and I hope you get things sorted ... you are amongst friends here

Debbie

www.familyceremonies.co.uk

www.soulgrowth.co.uk

[Mon Village]

Thank you all very much

NL

[MARSHA]

Why dont you contact Melanie she is very experienced and gives a lot of her time to help others on this forum. If I had known about this forum before I had my IVA underway I would have certainly contacted her. I have few assets, I rent, I have a car but thats on HP. I did not want to go down the bankruptcy route and an IVA was approved for me.