need help and advice from genuine people like you

[bob123]

Hi to you all,i have been studying the posts on this site for weeks now and have finally plucked the courage to post my question. Basically i am approx £38000 in debt and need advice as to iva or br. My wife has been in a iva for approx 1yr and is doing quite well so far no probs,but dont know how we would get on with 2 high iva payments per month. My income will reduce soon as all overtime is stopped and this is going to sink me fast.I know you keep telling yourself you can make the payments each month but i have finally sat down and worked out the figures and it is not a pretty sight.

My health is not brilliant having suffered a stroke a couple of yrs ago and the worry and stress off all this is getting to me and am in need of help and advice from genuine people like you all in this forum.I can supply any info you need for you to help advise a fool who has had his head buried in the sand for to long and just woken up.

[Adam Davies]

Hi bob123 and welcome
With zero overtime can you work out your disposible income and let us know.Also can you give a quick run down of your creditors.Finally are you a home owner,and is so what is your share of the equity.
By the way we ALL had our heads buried in the sand at one point or another,so don,t feel like a fool.We,re all in the same boat on this forum.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[aguise]

Hi Bob and welcome
If you post the details of your basic income if you own property, who creditors are and living costs then all will advise.
Just to say we were in exactly the same position, fighting to make monthly payments, hubby had threat of losing overtime and had already had a heart attack I knew we had to do something and though I did not post at the time the forum got me through the whole process, just by reading others experiences, and still helps me all the time.
You willl never be judged on here keep posting and there will be a solution.

Ang

[aguise]

Sorry Andy posted at the same time


Ang

[Adam Davies]

Hi Ang
Amazing how we both answer in the same manner !!!
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

Less of the "fool" and more of the "I am a responsible person, I recognise I have debts and wish to offer my creditors an affordable repayment over a realistic time period" please!!!

Is there any reason why you and your wife did not propose a "joint" IVA a year ago? And can I suggest that if she is happy with her current IVA provider that you also use the same firm, as they will already have a lot of the information required and ought to charge a lower fee, the saving of which can be directly passed on to your creditors.


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

[bob123]

Hi all,basically i get £1000 pm take home with no o/. We live in a council property which is in my wifes name only. creditors are
Barclays, Black Horse, and 6 credit cards total payments are approx
£1300 pm, am in process of working out living costs as they are tied
into how my wifes iva is worked out so need to get all the paperwork out. Hi Melanie yes it was suggested at the time but things were fine with me then and i agreed to support my wife in hers by covering the rent payments and other bills, but little did i know the credit card companys i have been with for years and never missed a payment or gone overdrawn would suddenly raise their interest rates to ridiculus amounts and are still doing so although iam to blame totally for my situation they certainly are not helping people in the same predicament as myself. Hope this is a start. Sorry for long time to reply logged out to open new bank account on-line and could not get logged back in.

[MelanieGiles]

Look forward to receiving more info as it is available Bob.

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