Totheteeth, Im in the same boat as you with the hmrc,i got a knock on the door from a process service guy with a satutory demand from the HMRC, Michael's company have been very helpfull and adivesed me.They have just sent my proposal in for a creditors meeting so fingers crossed they accept it

Im not an expert so i dont know if im rite in what im saying, but an iva is paying your creditors for at least 5 years on a minimum payment per month. If you only have the one debtor it might be worth doin a settlement with them, call there bluff tell them you'll go bankrupt see what response you ge...

Who cares how much an IP cost at the end of the day it's our fault were in debt. If i owe 20k to creditors and i only pay 16k-20k back thats good business, it's better than paying 20k+. If an IP takes 10k out of the payments i've made thats down to the creditors for agreeing.

Correct kallis advice is free, it's making that first step and following it through cause you know what lies ahead, but at the end of the day it needs to be done

The problem with debt is that no matter how much your in debt, you'll aways try and find away to get more credit. You will even go to the high interest companies or loan sharks just to get cash behind you.Once the high interest loaners and the loan sharks stop giving you money you think your world i...

Hi Clarelm

Yeah im just getting everything to them this week, hopefully fingers crossed my creditors will agree, then i can get the ball rolling and start payments.

The father of the child will only pay so much a month to you,the csa will look into is Di and tell him how much is has to pay, it might take him years to pay up, so you might only have to pay so much into your iva depending when your iva ends I agree the CSA are a waste of time,glad they have caught...

Barclays are very helpfull they'll help you put money aside to pay for all your outgoings.

I know Plasticdaft they were the only options to me to be honest facing bankruptcy was not somethin i wanna to do especially owning my home, if i didnt have assist i would'nt of been that bothered.

Hi Plasticdaft

My options are Iva or Bankruptcy, the inland revenue have sent a sat demand. I spoke to the inland revenue and they were saying i need to speak to an IP to get this sorted out of they'll make me bankrupt

Hi Hufflepuff, Im new to this miself but my understanding with an IVA is that if you only have a maximum of £120 each month cause of your circumstances. I dont think it meets the minimum payment to go into an IVA. Like Kallis said Bankruptcy could be an option if you have no assist and a low DI. Can...

Feel alot better with myself after speaking to Keith from Vincent Bond,very helpfull. The last people i spoke to were demanding £200 payment from me to get the ball rolling, then a further £200 the month after then all the rest of the payments would go to my IP( i didn't come on a banana boat).Hopef...

How many bank accounts are you allowed to have, and if more than one do you show your IP the one with all the transaction in and keep the other one on the side

i have no assets at all, i own a home but it's got no equity, it's also got a secured loan against it

Thinking of entering a iva, but been told bankruptcy is best option,owe the tax man 20k advice please need to make my mind up asap, what are plus and negatives in a iva/bankruptcy