www.iva.co.uk

hi i have a halifax of 15000 over 5 yrs. can this be included in a iva along with credit crds.thanks

Hi there - in short yes it can. You should list all loans and credit cards including overdrafts. You can't include any utility bill arrears though.

Hope this helps xx

hi

i may be wrong but i thought utility bills arrears could be included- like i say i may be wrong!

barb x

All creditors should be included in an IVA, and this does include outstanding utility bills. The reason that these are sometimes left out is that because the outstanding balances are relatively small, and to disturb the accounts and cause confusion in the continuation of supply, often makes it easier for them to be excluded.

We're all learning [:)]

apart from halifax loan we have 37000 in credit cards.all in all about 65000 with other stuff such as overdraft etc.if i were to write to credit cards and just say i can only afford far less than i pay now would the interest stop or would it keep making the debt bigger.or should i just go for iva or even bankruptcy because if we carry on paying the way we are i will be about 100 before its paid.any advice greatly received thanks

If you just write to your creditors, there is no guarantee that interest and charges will be stopped, so you could be paying forever.

You need to speak to an IP. Melanie Giles, who posts on here is highly recommended. You will be able to discuss your finances with someone and discuss all your options. Then you will be able to make a decision as to the way forward. The advice is free.

i have got a meeting early november with someone from bankruptcy forum but was just after some answers now to give us an idea.if we go for iva should i stop paying ow to get some money together.thanks

Yes, that would be a good idea so that you can get the fees together.

Can I ask if it is the bankruptcy forum on this site you have contacted or someone else?

yes its from this site spoke to helpline and they have put me in touch with a company who specialize in my case as i also have ltd company problems to sort through as well so we have a few things to workout

also another reason of trying for iva instead of bankruptcy because of being a director

Hi
Have you spoken to anybody about an IVA Mitsu9 ?
It could be an option for you
Regards

yes its something that was mentioned when we spoke on the phone to arrange our meeting

could someone tell me if iva was accepted on debts of 65000 how much would monthly repayments would beroughly.thanks

Hi there
Payments to an iva will vary from person to person. They are dependant on the amount of disposable income that you have, so there is no set amount for a certain amount of debt, That is why it is an individual arrangment.
When you speak with a company they will give you a rough idea after going through your income and expenditure as to how much payments might be.

Hope this helps.

Ang