last chance of trying to save what little I have

[david_b]

Hello there this could be my last chance of trying to save what little I have. I have debts totalling £80,000 and I am expecting to raise £25,000 which I am hoping to use as a one off payment to finalise all these debtors. I am presently on income support.

[jamesfalla]

David

How will you raise £25,000 if ou are on income support? Do you own a property and is this what you are trying to protect with an IVA?

James Falla

Expert in IVA, Bankruptcy and informal Debt Management solutions, with extensive experience of solving personal debt problems over the past 10 years. My book, "IVA, Bankruptcy and Other Debt Solutions" was published in 2006. I have made numerous TV and radio appearances including BBC1 News, BBC News 24, Radio 4 and Wake up to Money.

Visit my blog at: http://jamesfalla.blogs.iva.co.uk

[david_b]

Hello James,

Thank you for your response. I have a property with equity and am presently waiting for a valuation and then release of £25,000. I am protecting my properties (I have two as I have just gone through a divorce in the last two years and also a car accident - long story) by selling them onto a property company so they are not in my name, therefore, stopping the creditors from obtaining court orders on them. I believe that offering say £24,000 I should be able to bring my predicament finally to an end. Does this make sense James?

[123debtsolutions]

It is possible but you will need to provide more information on your current financial circumstances other than the debt you are in.
Please provide a breakdown of income & expenditure and more information on the value of these properties including equity in the property.

Have you spoken to an advisor? Have you sought professional assistance? If not you should seek advice from an expert. I would recommend an expert from this forum.


Regards

Lee
www.123debtsolutions.co.uk

[david_b]

Its so confusing at the momnent I have debtors calling me, sending letters, court dates pending, a court order by Lombard is now on the house but I am arguing against this, yet this has all been going on since my divorce started in 2004. I hoped that by offering a one off payment as full and final settlemt to the creditors (MBNA, Barclaycard, Capital One, Nationwide, Lombard, American Express) that I could this awful burden on my life. The fact of the matter I am unable to work as I have a forth operation this Monday 12th Feb to contend with since my car accident of 2002 and I have PTSD and have to contend with a major depressive disorder while trying to live on income support. Now my sense of humour is running out and I just want to break free from this on going tiring life of dread of waking up. David

[david_b]

Hi Lee, thought I would just say a 'BIG' thank you for your assitance today/evening it smuch apprecaited and I believe that you ahave helped me find some light at the end of the tunnel.

Many thanks,
David

It is possible but you will need to provide more information on your current financial circumstances other than the debt you are in.
Please provide a breakdown of income & expenditure and more information on the value of these properties including equity in the property.

Have you spoken to an advisor? Have you sought professional assistance? If not you should seek advice from an expert. I would recommend an expert from this forum.


Regards

Lee
www.123debtsolutions.co.uk