please help

[zena]

I really dont know what to do.

things really bad got our iva through to sign i am sitting in tears is it the best thing to do?.Not that i see we have ne choice

Please ne1 is it for the best.

[Adam Davies]

Hi
You have a choice.
Can you post more details ?
I have been through an IVA and can tell you that it is tough but well worth it.You will have to sacrifice many things whilst in an IVA but you will also be debt fee when it's concluded[apart from a mortgage if applicable]
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]

Hi Zena and welcome to the forum

What advice and support has your IP given you with regard to the options available to you and the preparation of your IVA proposal?

If you are in doubt, I would suggest that you get a second opinion, or at least arrange to meet your IP to undertstand things a little better.

Could you post how much you owe and whether you are a property owner, and also how much your monthly payments are likely to be?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[zena]

we owe about £40000. in loans and credit cards payment will be about £300 a month.
We own our own home pay £700 a month .
worry at the end about having to remortgage to pay off iva.Thank you , I have had heart probs this is a real strain.

[aguise]

Hi Zena
As Melanie says post some details and we will see if we can help clarify things a little. You should speak to your Ip if you are uncertain about anything. It can be a very confusing time and you should understand all your options. I knew it was the best thing for us but only after researching everything. Make sure your living allowances are enough for you to manage, dont put forward payments you dont think you can reasonably afford, post some details and try not to worry, a lot on the forum have been or are feeling as you do at the moment.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[iva.com]

Hi Zena,

You should ensure that you are comfortable with you IVA proposal before you sign it. If you don't feel that your IP has informed you fully you should speak to them again and, as Melanie says, maybe get a second opinion.

Please let us know how you get on.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp

[sonyse2t5]

Hi,

The EQ release is probably the most undesirable thing about an IVA if it applies to you. But that is a condition creditors will not waiver on. Some people are in shared ownership so I guess they have to pay a 6th year from what has been posted here and in other sites.They don't get off on that one.

As for your contibutions ££ you understand it can go up if your income increase ....some have posted on the site to say that it can become difficult.Be vary.

IVA is a very good solution but it is not the all miracle debt resolution - its a hard slog especially with housing considerations and dependents.

The media is branding it as some miracle 75% debt relieve programme- Jokers.

[zena]

Thank you all so much i felt so alone before coming on here.
I am finding it a big help we are taking further advice will let you know the outcome.

[Jo Rolland]

Before entering into any solution, it is best to take advice from more than one company.

If you post a bit more information regarding your current circumstances we can try to help you.

Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk

[MelanieGiles]

Hi Zena

You definately look as if you have the makings of an IVA there - how much equity do you currently have in your property and what is it worth?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Soulgrowth]

Hi Zena ... I am not an expert here, just someone who has had to address some debt issues ... so I just wanted to say welcome to the forum.

I remember thinking through the years as my debt started to mount as a result of my husband leaving and me having to bring up four young children on my own for many years ... that I would, hopefully, be ok one day as much of my financial resources lay in my house i.e equity. In the days when house prices were rising, it was like saving for a rainy day. And so, I have never had any qualms about releasing equity to realise my debts

Debbie



www.familyceremonies.co.uk

www.soulgrowth.co.uk

[sonyse2t5]

House prices might well stablise in the UK and the worse case senario, the USA situation. No EQ to give to creditors in 4 years time. Making a 6th IVA year a possible mod