www.iva.co.uk

Posted: **Mon Sep 27, 2010 9:56 pm**

I am in a massive (120K) amount of debt, have just managed to make payments for last 6 months but cannot make all of them next month, can i start an iva before i am in arrears or not

Posted: **Mon Sep 27, 2010 9:59 pm**

Hi and welcome to the forum.

You do not have to wait to be in arrears before looking at an IVA. I suggest you visit www.iva.com for a list of companies and reviews. Give one or two a ring and you will receive free and impartial advice as to all the options open to you.

Posted: **Mon Sep 27, 2010 10:00 pm**

Hi and welcome
Yes you can.
I would say that 90% of people I talk to are up to date with all their payments but are using credit indirectly each month to make their minimum payments. They are just getting further into debt each month.
Speak with several experts/companies and discuss all your options
Regards

Posted: **Mon Sep 27, 2010 10:32 pm**

Hi J4, coming to terms with our situations and realising we arent in control anymore is the difficult part. So go ahead and make a few calls and don't worry about being them being judgemental and patronising. IPs are like doctors...they've seen it all before.

As an aside, I was in arrears for well over a year before I sought help and I wish I had started sooner. With the benefit of hindsight, I would say don't let it get any worse.

Posted: **Mon Sep 27, 2010 10:38 pm**

Hi and a warm welcome to the forum from myself too.

I was totally up to date with my payments pre-IVA and I was accepted for a new bank account (full account) without any problem, take some impartial professional advice and keep posting x

Posted: **Mon Sep 27, 2010 11:14 pm**

That is quite a lot of debt, and the interest payments alone must be crippling you. Once you have realised that your debts are not reducing, yet your repayments are absorbing all of your spare cash each month, it is time to take steps to see what other options are available to you.

An insolvency practitioner can discuss all options with you - including an IVA - and you will then be able to make an informed choice about the way forward in a positive manner.

Posted: **Mon Sep 27, 2010 11:27 pm**

yes you can start a iva now,good luck.

Posted: **Tue Sep 28, 2010 8:02 am**

Visit the website recommended to do your own research and then make some calls. Try to speak to at least 2 or 3 and then go from there.

Good luck and regards.

Posted: **Tue Sep 28, 2010 8:16 am**

Hiya J.4,
The only regret I have is that I didn`t get advice and take action to combat my debts sooner than I did, and I bet most of us that are in IVA`s would say the same.
I was completely up to date with all my debt repayments when I started the IVA ball rolling...Get some advice NOW, you`ll feel much better for it.

Posted: **Tue Sep 28, 2010 8:22 am**

Hi,

we had a pretty similar amount of debt too and try to stuggle on thinking something would happen (lottery win I think!!). We called cleardebt who Size5 works for and I have to say, we've never looked back!! I think the sooner you act the better really as taking numerous phone calls from angry creditors is not ery pleasant!! Good Luck in finding the right solution for you.