Hi, I have finally plucked up the courage to change my bank account & secure my income as advised previously. I now need to work out which is the best option for me Bankruptcy or IVA I am not sure. I have no assets & live with my partner who although he knows I am in debt he has no idea how much. I have robbed Peter to pay Paul so I have been able to pay my way with him for so long I kept it well hidden it is just so embarrassing. I have been able to give him an amount of money this month to help with the bills only because I switched accounts.
I need to know now what to do I have started to have letters from my bank & they hold the bulk of my debt so i neeed to look at a way forward please advice would be fantastic Thank you JT
You should speak to a few IP firms. You can get contact details on www.iva.com where you will also see feedback for each firm.
They will be able to explain the ins and outs of both IVAs and Bankruptcy and DMPs too, so that you can make an informed decision abuot the best way to deal with your debts.
regards
st75
regards
st75
Started lump sum IVA in Aug 2010 - received certificate of completion April 2011, thanks to Melanie & team
Hi and welcome
Have a chat with several experts/companies and explore all options. Use the company that you feel most comfortable with
The first call is often the hardest but once you've made this it should be all much easier and clearer
Regards
Hi Joan a good link above as a starting point, all debt solutions can be discussed with a professional and by contacting 2 or 3 you will ensure you receive impartial advice that is case specific to you. As Andy says the first call is the hardest but you're not alone we've all been there at some stage. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi Joan
Welcome from me too. Do speak to 2/3 firms to get an idea of where you stand. They will give you free impartial and non judgemental advice as to what your options are based on your individual circumstances. You will then be in a good position to make decisions as to the way forward. No debt situation is too bad for them, believe me, they have heard them all before. Do let us know how you get on, there is normally someone aound to answer your general questions and be a shoulder to lean on
Can I just ask which bank you are using? HSBC and First Direct are well known for closing accounts so if it's one of those you might need to think again.
My hubby had no idea about how much debt we were in and it caused a few problems initially but we came through it and have been stronger than ever. I'm sure you will get through this.
Do visit the link provided and the advice will be free and impartial and will help you decide which is the best way forward for you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Joantt - as you can see you have come to exaclty the right place for help and support. Everyone on here has either been where you are now, is at the same stage as you or are there ready to advise and help... (and there are some even reading but haven't yet plucked up the courage).
As the others say, seek help from one or two companies to compare what you are being told and never proceed with anything unless you feel comfortable and well informed. That way you know you are making the best decision to move forward.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Hi Joan, whichever debt solution you choose will allow you to contribute towards the household bills. So no need to feel embarrassed that you won't be able to pay your way. I even found I was slightly better off. I was very embarrassed telling my boyfriend as he is very sensible with money (an accountant!) but he loves me and wasn't a fraction as fazed as I thought! In fact, I built it up so much the whole thing was a bit of a let down. LOL
It made my husband very ill when I told him - not good as it was my birthday at the time!
He did recover though and you may find he takes it really well when you tell him Joan.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
get on the phone and make the first step to getting things sorted out. Problems are never as bad as they seem, and a problem shared is a problem halved. Once you have taken the first steps and decided which step to take, you will feel the weight lift off your shoulders immediately. Even at the outset with an IVA 5 years doesn't seem like a long time, and after 58 months i can assure you it isn't, the time flies past.
At this stage, it probably does not matter too much about how much you owe - what is more important is what options you have available and which one best suits your current circumstances and where you want to be in the future. Another deciding factor is how responsible you feel to wanting to repay your creditors, and how much you could afford to pay on a monthly basis given that you have no assets of material value to offer.
Best of luck with whatever direction you choose to follow.
well done on making that first step with the banks. Now you need to take another step and pickup the phone and ask for information. Honestly you will feel so much better, try the link above and get some great advise in person, so to speak.
I know its scary to talk to your other half, thankfully my hub and I have done all this together but there are people I would never tell.
