Please can you suggest a way forward. We are struggling to get by.

[Beverley.n]

me and my husband are both working and currently have an income of approx. 2700, our out goings are 2500 and we are struggling to get by. our current debts add upto £43000. please can you advise a way forward and does this affect our mortgage etc

[Michael Peoples]

An IVA or bankruptcies seem reasonable options but the full advice would depend on your personal circumstances such as employment status and equity. Your mortgage is rarely affected but you may have to agree to release equity in the final year of the IVA if that is possible and bankruptcy means any equity must be released quicker.

Contact an insolvency firm for some free advice on all the options but there are certainly a few out there.

[kazzafunk]

As Michael says without knowing all your circumstances it's hard to advise.

All I will say is there is always a solution to a debt problem and life is too short to struggle each month and worry about the debts.

We can advise all the way through the IVA and remember, most of us have been there and survived! Best to speak to 2 or 3 different companies initially and proceed with those you feel comfortable with and able to work with for 5 or 6 years.

[Judo]

Hi Beverley,
Nothing more to add to the advice you have been given but just to say there will be a solution out there for you. Make a few phone calls. Ask as many questions as you like, gather all the information you can on your options. Although I haven't posted here for a long time I am always lurking and this forum is a god send for people just starting out and needing that little extra support. Good Luck and keep us all posted x

[Til]

Your circumstances and debts sound very very similar to ours when we started. At the time they seemed unfixable. However after seeking advice we chose and IVA which was right for us and now we are debt free.

It was tough going at times, but rest assured that there isn't a debt issue out there that cannot be solved with some good advice that leads to a plan.

There are some great firms that post on here - they won't ask for upfront fees and they will give you advice on a way out. Ring 2 or 3 and get the advice you need for free before you choose a plan of action.

Back when we started I saw no way out but now I know that it can be sorted. Best of luck.

[Shining]

There will be a solution for sure and when you do decide to contact some professionals do talk to 2 or 3 to ensure impartial case specific advice. All the best any questions just ask.