www.iva.co.uk

I just dont know what to do. Im only 23 and owe 24,000 to about 11 companies. I have moved house frequently over the last few years, hoping to 'forget' about my problem and it will all go away. I might even owe more for things that I have forgotten about from a few years ago. But now Im at the point where debt collection people are chasing me. I realise how silly I have been. I do not own a house, and have a well paid job.
I cant eat or sleep and cannot tell my friends or family!
Ithink its making me ill because its all i think of.

What are my options in this situation?

alison, you have realised these problems don't go away they soon catch up with you, regardless how many times you move, firstly you need to address you have a debt problem, then sit down and work out your income and expenditure each month without counting in your unsecured debts, post them here and we will work out your best option, you are not alone we are here to help, you have already taken the biggest step, until we hear off you further, remember everyone that posts on this forum has been at your point some time in their life
kerri

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

Good luck Alison

Being prepared to face the problem is the first step

If you are in a well paid job, then there is a good chance you can do an IVA

Yes I realise I have a problem and I need to sort it out asap. My income is around £1450, and my expenditure (rent and bills) is about £700.

Hi alisonneedshelp -

Running away / burying your head in the sand - or whatever one decides to call it - is never a solution (although we have nearly all done it!!). And dont worry - in the overall scheme of things - your £24k debt is not that large.

You must sit down and make a list of all your current creditors AND any that you may have lost touch with. Are these likely to increase your debt significantly?? Be completely honest with yourself and your creditors.

The important thing is to contact whoever you feel comfortable with - CCCS / IP / IVA Company / CAB or whoever - and get on the road to the right solution as soon as possible.

The one definite thing about debt is that it wont just go away!!! Collect your thoughts on Sunday and start making calls on Monday!!!

Good Luck!! Like the others say - accepting your position is the main thing and we have all had to face up to that.

Hi alison
On the limited info that you give you seem a likely candidate for an IVA.This will put your finanaces back in order and leave you debt free in five years.
Please post more details
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

try not to beat yourself up to much alison....its the mistakes we make in life that makes us stronger and who we are....i am a much better person now than i was before the debt.

There is always something to be learned and this will just be another curve...best of luck x

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/