I have total debts of £8500 with 6 creditors. My monthly income is £610 (State Pension) with £240 for housekeeping etc. At present the total debt repayment is £370 per month. Would an IVA be suitable ?
You should speak to a number of companies for some free advice.
Contact Andy Davie/ Vincent Bond whose details can be found under the experts link on the left hand side of the page. They will give you some 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
Given your apparent age I would agree with the last comment except that rather than Payplan I would say a debt charity or CAB.
There are a lot of variables and you need to sit down with someone who can work this through with you.
There is a lot of stress going down this route and you need to feel comfortable with your options.
Good luck and I hope you get this sorted.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Payplan have had a lot of bad press on here lately.
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
If you have assets to protect, such as property or a highish value vehicle, then an IVA may work.
If you have no assets then, depending upon affordability, which doesn't look a lot in fairness, then you may qualify for a Debt Relief Order (DRO).
Do your own research on all the different debt solutions, then make sure you speak to 2 or 3 different organisations to weigh up the pros and cons before you make your decision.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Or get in contact with the organisation that Size5 represents - I was hoping he would comment.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Could someone clarify if the board is to be used to find sales leads for iva companies?
I appreciate its a fine line but...
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Sorry profdog - unless you are an expert on here you cannot tout for business.
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
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
profdog seems to have deleted his posts and disappeared!
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
