www.iva.co.uk

I am so worried that there wont be enough money for the children,emergencies,etc.

How much will I be paying each month? Thks

Hello Teo,

The creditors will expect you to pay as much as you can afford to pay, while still allowing for your reasonable domestic expenses.


You will need to prepare an income and expenditure budget showing how much income your household will receive altogether and how much it will need for domestic expenditure (ignoring any current payments to creditors). As Andy says it will be tough, make no mistake.


Regards,

Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
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And do make sure taht you make provision for contingencies such as medical expenditure, house and car maintnance and a general miscellaneous provision.

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