www.iva.co.uk

hello iam in desperate need for help and advice,i owe 15500.00pounds to credit cards and store cards,i have 2 and half years left on my car to pay which is 158.00 pounds per month,iam struggling now to pay the credit cards minimum payments that they are asking 550.00 pounds permonth,i work partime im a single parent with two children,my incomings including tax credit are 1500 pounds per month,please is there any help for me.thankyou. Debbie

Hi and welcome

Yes, there are solutions available. Which one will depend on a number of factors. The headline questions are:

1. If you didn't have those debts to pay, how much money would you have left at the end of the months?

2. Do you own your own home?

3. What do you do for a living?

4. How many (in number) of credit cards do you have and how many companies do you owe money to?

Dont panic deborahb,can you give us a brokendown list of your debts and who they are with please. Do you own your own home??

Hi
There will be a solution for you Deborah,you need to have a chat with an IP or debt advisor so that they can look at the whole picture and advise you accordingly
Regards

Deborah
It is always a good idea to speak with several companies so that you get the best advice.
It is always difficult to take that first step but you'll be so pleased that you did
Regards

The first step is to sit down - usually best when the children are in bed - and work out what you have coming into the household, and what you have to pay out. With your expenditure, don't forget to include things like car road tax, clothing, car maintenance and miscellaneous expenditure, as well as leaving yourself a little for a social and leisure expenditure and the children's pocket money.

When you then have an idea what is left, it would be sensible to have a chat with an insolvency practitioner to see what options there are available to you. Although you do not owe a great amount to your creditors, if you cannot pay the contractual payments or in line with creditor's demands, you may well need to seek help from people who are used to dealing with these companies on a daily basis.