www.iva.co.uk

My husband has just been diagnosed with cancer. We are hopeful chemotherapy and operation will be successful. He is off work and will be for a while - we are worried as his income was £1K month and now £300 (SSP). We have debts totalling approx. 70K and have managed to juggle and pay all of them for years - we have a superb credit score and we felt we were just managing (lots of cards on 0% balance). I have a good wage £1600 month but we dont know whether to use the 0% cash transfer of £10K to supplement his salary (which will obviously add to debts) - this cash was transferred before diagnosis and was to pay off another card. Any advice would help please.

Hi and welcome.

Sorry to hear of your sad news. I cant really advise what is best to do but an expert should be along shortly to advise what is best.

Good luck.

Hello and welcome along.

First of all, god speed your husband on his way to a full recovery hopefully.

Secondly, you need to take professional advice urgently, and do not be tempted at this stage to incur any further debt if you can avoid it.

If the average 2k c/card is £60 per month, and if you apply that equation to £70k, then you are almost certainly overcommitted already, even without your husbands loss of income.

Please visit www.iva.com have a look round, read the reviews and take time to speak to 2 or 3 people before you make any decisions, the next decision you take on this debt and how to service it is most likely going to be the most important that you ever make.

Good luck and regards.

Hey wendiw, welcome to the forum. I am so very sorry about your husband and I too would like to wish him a speedy recovery. This is far more important than your debts but I can imagine that this is very stressful for you. Speak to an Insolvency Practitioner, there is a way forward. We're all here to support you. X

Welcome to the forum and I wish your husband a fully and speedy recovery.
I can only echo what others have said, you need professional, expert advice and soon!
Do keep us all posted.

Hello Wendy

Just wanted to say that my thoughts are with your huband and you at this time.

This is exactly one of those siuations when none of us have a crystal ball to know what is around the corner ... we can be completely on top of things ... and then the unexpected happens [:(]

I would say that the most important thing for you at the moment is to try and stay on top of things. Many of us here, me included, had an excellent credit rating and all bills paid up when we decided to go for an IVA ... but we could see that this was not in the long term sustainable and so took steps to reign in our finances in light of the future.

Do please keep us posted ... you are amongst friends here and we will support you all the way.

Debbie

Hi Wendiw and welcome from me as well.

I'm so sorry to hear about your husband's illness, and I hope he makes a full and speedy recovery. His health is the most important thing at this time, much more important than creditors. You need to get expert advice soon, so that you don't have unnecessary stress at this time.

Good luck to both of you, and please keep posting to let us know how you're getting on, and to ask any questions you need to xxx

Thank you for all your replies - so quickly!

We will have a lot of thinking to do - probably at the weekend before hubby starts chemo. x

HI and welcome Wendi. I do hope your husband makes a full and speedy recovery.

You are in the situation that I was in not long ago. Stop robbing peter to pay paul with the credit cards. Which ever way you look at it, it is just not sustainable. I know, I spent years doing it and all it achieves is a bigger amount of stress when everything eventually gets maxed out.

Contact a reputable IP and get some professional advise ASAP.

Hi Wendi,

So sorry to hear of your Husbands Illness, hope he makes a full and speedy recovery.

And Good Luck with whatever you decide regarding your finances. Please keep posting to let us know how you get on [:)]

Hi Wendy and welcome from me too.

Sorry to hear about your husband. I hope he makes a full recovery, and is back to normal soon.

I echo what the others have said, contact an IP (Melanie Giles, who posts on here, is highly recommended), and take advice.

Good luck