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Posted: **Fri Jan 02, 2009 6:27 pm**

I have a CCJ where I am paying £20 a month. On another debt I am paying £216.00 a month. On my last debt an £80 a month repayment was agreed. After nearly 10 months the debt has now been sold on to some other firm who want the total debt paid in full and in one lump. I have explained that I am not able to do this but there are not willing to reach any agreement. The only thing they agreed to do is for me to pay £203.70 on the 31st December and I have to pay a lump sum of £1395 by the end of January followed by 5 monthly payments of £203.70 then the rest of the debt will have to be paid in full (around £11,000). I just don''t know what to do. I don''t think I can raise £1395 for the end of the month. Would an IVA be possible even though I have a ccj? would they be able to object the IVA?

Posted: **Fri Jan 02, 2009 6:43 pm**

Hi Sylvie and welcome to the forum

How much do you actually owe to all three creditors? An IVA may be possible for you, but it is still likely to need the support of the debt purchaser unless they are owed less than 25% of the overall debt.

Posted: **Fri Jan 02, 2009 8:44 pm**

Hi Sylvie and welcme from me too.

I recommend that you give an Insolvency Practitioner such as Melanie a ring. She comes highly recommended and a call to her office would give you the advice you need to decide the best way forward for you.

Posted: **Sat Jan 03, 2009 5:38 am**

Firstly welcome - and don't panic. Speak with an Insolvency Pratictioner who will give you some correct advice. It will depend on your level of debt and the number of creditors you have. If you owe over £15000 then an IVA may well be an appropriate channel to go down. IVA's normally take between 4-6 weeks from start to finish, however I know from previous posts on this forum some IP's are able to do them alot quicker if needs be.
As Kallis has said Melanie comes highly recommended - make the next step a phone call and hopefully things will start to get resolved for you.

Posted: **Sat Jan 03, 2009 3:32 pm**

Visit www.iva.com to view prospective IVA Providers - don't worry and depending on what you owe, number of creditors and your personal disposeable income an IP will give you the most appropriate advice. Ring 2 or 3 and get a feel as to who you feel comfortable with.