paying creditors

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canary joe

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Post by canary joe » Tue Aug 10, 2010 7:04 pm
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At present we are paying creditors a monthly amount which was agreed between both parties.We are unlikely to be able to afford this after octonber this year.Would the right course be an IVA AFTER THIS POINT.We have various creditors and debts of £75k.We own our house and have equity in the house of 20k.Any suggestions on course of action ?.We have been in touch with cccs over the past few months hence the agreement with creditors.
thanks.
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kallis3

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Post by kallis3 » Tue Aug 10, 2010 7:08 pm
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Hi Canary Joe and welcome to the forum.

If you are not going to be able to continue your DMP payments, how would you manage any IVA payments? Is there any specific reason for this?
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
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Shining

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Post by Shining » Tue Aug 10, 2010 7:48 pm
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I would talk to a few companies in respect of your situation and would suggest looking at www.iva.com for a list of companies and some reviews of these. They will discuss all debt solutions with you and you will receive free, impartial case specific advice.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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canary joe

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Post by canary joe » Tue Aug 10, 2010 7:53 pm
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The problem has been caused by ourselves. We came into some money and have tried to pay off more than we could afford or advised by
cccs.The money is about to run out.
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kallis3

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Post by kallis3 » Tue Aug 10, 2010 8:08 pm
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If you have enough disposable income after your priority bills have been paid then an IVA might be ok for you.

Visit the link that Lesley provided, you will get excellent advice.
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
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