We are at the stage where we don't think we can avoid applying for an IVA,we haven't missed any payments yet but can feel it coming very soon.We are so apprehensive about how to choose a firm that we can trust, that have our best interest at heart and not just taking us on for the money can anyone recommend a list of firms also we are worried about how tight finances are going to be, if any unexpected bills arrive do the IP's allow a little left at the end of each month to treat the kids or put to one side for emergencies, I think to sum it up we're worried that things will be so tight that we will find it to hard to cope.We're very upset that we have got ourselves into this mess and it's the kids that will ultimately suffer.
Joeblack first of all welcome to the forum....you are in good company and I would personally recommend Melanie Giles (IVA Bureau) as one of the Companies you should contact.
Size5...also a poster on these forums has had some good feedback.
In any event speak to a few firms...or like Max did...even 8 or so until you find one that your happy with.
I came into this world with nothing and still have most of it left!
Hi Joe and welcome to the Forum.
Most IP firm offer free consultations and will be able to advise on which options are available for you and your family. It is not necessary to pay fees up front as again many IP operate on a no win no fee basis.
Do not agree to anything that is not affordable and if in any doubt you could speak to more than IP and see what each recommends. Good luck with your proposal.
Micheal Peoples thats a good point regarding "upfront fees"....definately one thing to consider Joe Black. With Melanie Giles I was not asked for any upfront fees, therefore keep forgetting that some do have to pay and as we have seen, can have a terrible time getting any money back if it is not approved.
I came into this world with nothing and still have most of it left!
We too hadn't missed any payments and were still being offered credit when we decided to go for the IVA (or more precisely I went for the IVA as my wife wasn't insolvent). However our joint income and expenditure is used to calculate the amount we can afford to pay back.
I'm with Melanie Giles and can recommend her. I also have a Co-op Cashminder account and think that's great too. Once you get into the habit of spending wisely it can become quite refreshing to know that you are spending only what you can afford!
Good luck with the process, joeblack!
Debt problems, what debt problems? I'm not in De Thames, I'm in De Nile.
Hi,
We were initially only going to apply for an IVA in my name but as seen as they will take my wifes salary into account we may as well include her debts to as she will be struggling if part of her salary is used to pay my IVA.
Like I stated earlier we are just so scared for the children if things are so tight we have to say no to school trips or a birthday party etc but don't really see an alternative other than Bankruptsy and I definately couldn't cope with the embarrasment of the public knowledge of that.
Thanks for the replies so far everyone.
You and your wife will be looked at individually and advice given based on the full facts. For example, if you have the bulk of debt an IVA or bankruptcy may be advised for you but not your wife. It depends on the full family income and expenditure as to what is the best outcome.
Bankruptcies are not always advertised anymore so you could ring your local official receiver and ask. You may be pleasantly surprised which would make bankruptcy a much more attractive option.
