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Posted: Thu Nov 18, 2010 1:32 pm
by Justin.cd
Hi i owe just under £19,000 for a HP on a car which was defaulted and then sold to another company.
I have 4 other debts 209, 553, 355 and 355 totaling 20472.
What is the best way for me to clear these debts as i am unable to clear the 19,000 and have issues with this as well.
Posted: Thu Nov 18, 2010 2:28 pm
by liamjames
Hi Justin,
I'm really sorry to hear about that. Are you struggling with your minimum payments?
Posted: Thu Nov 18, 2010 2:43 pm
by Bridgewood
Hi Justin
Unfortunately there is no one answer to your question as the best solution will be based on your whole circumstances, such as your income and expenditure, assets etc. There are companies that will be able to go through this with you and make sure you have all the options explained in full.
Hope this helps
Posted: Thu Nov 18, 2010 3:04 pm
by nepensioner
Hi Justin
As has been said, I would advise you to speak to 2/3 IP's who will be able o give you free and honest advise having taken into account you individual circumstances. A good starting point is to visit wwwIVA.com and look at the reviews of various well know companies. Good luck and do let us know how you get on
Posted: Thu Nov 18, 2010 9:05 pm
by MelanieGiles
Have you tried to come to any sort of arrangment with the HP company to clear the debt by affordable instalments? If you are looking into an IVA, remember that they will have the ultimate influence on whether your offer is accepted, as this exceeds the 75% requisite majority.