www.iva.co.uk

hi experts

ii am roughly £19000 in debt, i have 2 creditors. my debt has been managable up to this point and i rarely miss payments but my wife and i have been pooling our money, now we are on a trial seperation and are severing our financial ties i am going to find it very difficult to make the payments and pay my bills. i would appreciate any and all advice you could give me, here is a breakdown of my situation:

debt - 13000 loan - £330 per month
- 5500 credit card - £160 per month
- 550 credit card - £20 pper month
- 500 overdraft - £5 per month

total debt out - £515

bills - rent £260
- council tax - £90
- electric/gas - £60
- water - £40
- mobile phone - £25
- tv/phone - £60
- child care - £80
- bus (work) - £40
- food - £170

total outgoing bills - £735

monthly wage after tax - £1150
total monthly outgoings - £1250

obviously i have a shortfall which is causing me to dig a deeper hole each month.

i would just like some guidence and possible solutions. thank you for taking the time to read this and i look forward to your response.

dave

Hi Bez,

Sorry to hear about your marital problems and I hope the split is temporary.

I'd speak to a professional about your situation. Visit www.iva.com for a list of companies and reviews and give one or two a ring for free and impartial advice as to all the solutions available to you.

Hi and welcome
I would consider a debt management plan until you are sure of how your relationship will pan out. You may need to move into an IVA if you remain seperated
Speak with several experts/companies and make sure all your questions/concerns are answered
Regards