www.iva.co.uk

Well I made the first call yesterday and that was to Melaine Giles Company and spoke to a lovely lady called Tina. She was so help it was brilliant. Now I need to set my mind and make a decision between an IVA or bankruptcy. I have no assets as living at home with my parents – what to do

Tina is amazing, so helpful and does not judge you at all. I felt such a sense of relief after speaking with her and knew I was in safe hands with Melanie and her team.

Only you can make the decision about where you go from here, I have no assets and live at home but chose to enter into an iva. It is a personal decision and you need to weigh everything up and then come to the decision that's right for you.

Good Luck
Em

As Tina will have told you, it is a very personal decision when you have no assets which would be at risk under bankruptcy proceedings. If you feel a moral obligation to repay creditors back as much as you can afford over a realistic timescale, then an IVA is probably a good way of doing this, however if the motivation is not there and you really would like to get rid of your debts as quickly as possible, then bankrupty is the better solution.

Lots to think about, so take your time to make the right decicison for now and the future.

Well done for making the first call, Hubby and I have been in our IVA for 1 year now and it was the best decision we made for us to move forward. Times have been hard over the last year but being careful what you spend is a good thing, its quite fun finding new money saving tips.

This Christmas will be the second Christmas that we would have had and paid for before it happens and believe you me it is a great feeling, you truly start to appreciate what you have.I have a absolute fear of credit cards now will never have one again.


Good luck[:)]

Nik

Hi helpIVA welcome to the forum and plenty of sound expert and supportive advice, as has already been said the decision lies with you but whatever one you make will be an informed one with all the information you can gather off of here and with talking to experts like Melanie and others, good luck with whatever decision you take, it will be a positive one i'm sure, you have already taken the hardest one.

15 down, 45 to go

It also depends on your income and what could be afforded to pay either in an IVA or DMP. This would also have to be compared to any Income Payments Order that could be made if you do enter Banruptcy. Discuss again all the variables.

well done for taking the first step and making the call. You have a big decision ahead. Make sure you fully understand your options and ask as many questions as you need. Look at the pros and cons of each option and how important these are to you.
No matter which way you decide is best for you, there's always lots of advice and support available.

When i wnet in to an IVA, i had no assetts, and as things turned out i should have gone BR, it would have sorted things alot easier. and melaine basically said do you want to pay your creditors back etc and she is right, but the most important thing is that you decide what is right for you now and trust me, go with your gut feeling

I have now emailed my HR team to ask if BR or insolvency would affect my employment. Feel like I am making more progress this week which is great. I know the next steps are going to be the big ones but this is a big thing and I feel I am doing well this week

As my personal trainer keeps telling me when we are running up hills - small strides, and you will keep on going! (Well it doesn't always work like that for me - but I am sure it will for you in the process of finding a solution).

Good to see you more positive helpIVA. Long may it continue.

I now feel sick. I emailed our central HR team and have now been asked to meet with the manager. I don’t want people in my team to know about this

Perhaps they just need to clarify a few things with you? They might even offer you some help.

Let us know what they say. Fingers crossed that it's all ok.

I do hope its to clarify or offer help. Another sleepless night for me i think, i am also supposed to meet my bank manager at the same time tomorrow so i will have to cancel that.

Good luck. I chose to tell my manager and he was very supportive.