www.iva.co.uk

I owe 8 credit cards total amount of £16000. I live with my mum so do not own my own house or do I have a car.

i take home £1000 a month. My credt card bills are £450 and I pay rent of £350.

Is bankruptsy my best option as I have no assets or an IVA? Whats the difference fo rmy circumstance?

Hi,

I presume the remainder of your income is spent on everyday expenses?

I would recommend that you seek advice from a professional by visiting www.iva.com where you will find a list of companies and reviews and you will get free and impartial advice as to all the options open to you.

I think however, that you may be advised to enter a debt management plan if you cannot afford to make the payments on your debts.

You need to have a chat with an IP and give him/her details all your personal and financial circumstances and particulars.
Visit www.iva.com for reviews on firms and practitioners and select one or two to have a chat with. They will give you
the appropriate advice and it is free.