www.iva.co.uk

Posted: **Wed May 23, 2007 12:00 am**

Hi,

I've have got myself into alot of debt, mainly personal loans but I do have significant credit card debt aswell. I'm now finding that I cannot meet the monthly payments on all and obviously can't continue this.

I'm now budgetting for a month and trying to sell off all that I can to free some cash however i'm aware that it will help but not solve my problems.

For the record my debt currently far exceeds my yearly income.

Could an IVA help me and how will it affect my already damaged credit rating?

Any help would be greatly appreciated.

Posted: **Wed May 23, 2007 12:10 am**

hi dave welcome to the forum, for anyone to help we will need to know the level of debt, who you owe, and then your disposable income each month, without paying any unsecured creditors, don't panic about giving this information as we have all been in the same boat. this is so we can see if an iva is feasible for you.
keep posting
regards kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

Posted: **Wed May 23, 2007 12:40 am**

Hi Dave

I am sure that an IVA could be an option for you, but can you post more information about the total amount you owe and the amount you feel you could pay to creditors each month. Also are you a property owner?

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Wed May 23, 2007 2:56 pm**

Hi Dave_f,

As Melanie has stated an IVA may well be the best way forward. If you would rather not disclose further information you can always call one of the experts who can advise you further.
As far as your credit rating is concerned an IVA does affect your credit rating for the duration of the IVA and will stay on your record for a total of 6 years.

Kind Regards

Nicola

Finebridge Ltd
22 Laud Street, Croydon, CR0 1SU
0800 180 4212
www.finebridge.co.uk

Posted: **Wed May 23, 2007 9:17 pm**

Hello Dave,

Welcome to the forum.

The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health.

It is essential that you provide us with as much information as possible.
It would be very useful if you could answer these questions;

1. How much is your debt? Is it joint ?
2. Are you employed?
3. Are you a homeowner?
4. Who are your creditors?

I look forward to hearing from you.

Kind regards,

Julia

For more information about IVAs, please visit my website:
www.supersonicsquirrel.net