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Posted: Tue Aug 14, 2007 1:04 pm
by elel
hello my husband and i are 25K in debt we cant keep up repayments, is an iva best or go bankrupt and start again?
Posted: Tue Aug 14, 2007 1:08 pm
by jpj
depends how much you earn, if your in employment,if you own your own home etc....lots to take into account!
JPJ
Posted: Tue Aug 14, 2007 1:25 pm
by Sadsack
Hi elel and welcome to the forum
Could you post some more details regarding your debts. This would give others on this forum a bit more to work with and a better chance of advising you.
Sue
Ho Hum! Think I'll bang my drum!
Read My Blog
http://sadsack.blogs.iva.co.uk/
Posted: Tue Aug 14, 2007 2:21 pm
by Garcia Jones
You need to advise the courts of any assets that you may have eg house, shares etc.
The courts will look at your DI and if there is enough to undertake an IVA they could propose this though them.
In the meantime check with a Debt Management Company or IVA Provider and see what your options are.
Remember it is always best to check out your options then to go stright for Bankruptcy
Gary Coker
Posted: Tue Aug 14, 2007 2:29 pm
by iva experts
Welcome to the Forum Elel !
To determine what the best solution is for your debt problem, we will need to know abit more information.
- Who are your creditors?
- What is your monthly disposable income? (income minus living exp)
- Do you have a house with equity?
I would advise that you contact at least 2 or 3 debt solution companies before making your decision.
Best Regards. IVA Experts
Posted: Tue Aug 14, 2007 2:59 pm
by Oliver
This question would entirely depend on the circumstances to your case and your individual feelings towards bankruptcy and paying your creditors back to the best of your ability. Please post some more details so we can advise further.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp