www.iva.co.uk

i have 20000 of dept approx , 10 creditors , im in shared equity housing, trying to find 500 amonth on depts , things are stating to fall apart, looking for help and advivce !

Hi Darren and welcome to the forum, there will be a solution for you and a good place to start to look for a couple of people to speak with is www.iva.com

They can discuss all debt solutions and by ringing more than one you can ensure case specific impartial advice.

Welcome from me as well and great advice from Lesley - visit the link she's posted and you will get some free and impartial advice.

Hi Darren, my advice would echo the above. Don't worry - there will be a solution to your problems. Keep posting if you have any questions or if you just want to join in or rant. We all do it!!!

Get advice sooner rather than later,clearly you now know you have a prpblem that cannot be allowed to become worse by ignoring it in the hope that a miracle will happen and your debts will just vanish!!!

Paul

Hi Darren & welcome to the forum from me too,

I can only mirror what the other posters have said, we advise you speak to 2-3 companies you like the look of to get a clear perspective of options on your situation. Once you make those calls you will feel so much better knowing what options are out there for you.

Good luck & let us know how you get on x

thanks for all your replys,its taking that first step to deal with it all, can you reduce the time of the iva term ? or is it set a 5 years ?i have been looking at pros and cons , i have a personal loan of 10,000,never defaulted i brought a car with it ,had the loan 3 years now can they possibly take the car back once an iva is in place ? once again your all becoming a great help !

They won't take the car from you unless it is worth a lot of money! We had our car which was bought with a loan and had no problem with keeping it.

As to the term of the IVA, unless you can pay back your creditors 100p in the pound plus fees within the term then it will continue on for five years.

you must take advise and thats the hardest step to take.
once your iva starts it will put an end to your immediate worrys and then in the future if you can find somebody willing to help you out you can end it early with a full and final offer.
your credit rating will be shot for 6 years from the start date but its only he same as you getting ccj's so if you can bite the bullet for that long you will be debt free

well done for admitting there's a problem,next stage make some calls& get some help from the link above.

we used Mel Giles& spoke to Tina,they were v good. others will post feedback too.

Visit the link posted by Lesley - the companies on there come highly recommended.

does anybody now how it works with bank accounts, i have 5 ,one is 2000in the red, one is an isa with 200 in ,the rest certain d,d come out of ,?

You need to open a bank account which is not associated with any of your creditors.

Co-op come highly recommended by posters on here.

Darren - if you apply for a co-op account it's a cashminder one. I wasted a few days as I applied for an account online and was turned down. Cashminders can only be applied for by phone or in branch. They are very IVA / BR friendly but as Jan said make sure they are not one of your creditors.

Cashminder can only be applied for on the phone or in branch as kazza says but it is a good account.