i currently owe £53,000 on various loans and credit cards im in a right mess all my own fault time to take action im self employed my taxable profit last year was £20,462.00 is iva the best way to go please help!
I recommend that you speak to an Insolvency Practitioner as soon as possible.
You can find some under the expert link on the left hand side of the page, they come recommended, or visit www.iva.com for a list of companies.
They will listen to your circumstances and explain all the options open to you and advise you as to the best way forward.
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
An IVA may well be an option for you, especially if you are self-employed with HMRC debt presumably. At the end of the day, affordability would be key, and to this end you ought to choose an insolvency practitioner with experience of dealing with the self-employed - and you will need to produce historic accounts and future trading projections to support your earnings level.
At the end of the day IVAs were originally designed with the self-employed trader in mind, so if you have a business which is generating profits sufficient to offer a return to creditors, this may well be a good solution for you to consider, alongside other options which the insolvency practitioner would be able to discuss with you.
