www.iva.co.uk

Recently got a new credit card last month to transfer the balance from another card as the new one is interest free on balance transfers. However i feel the hole im digging is getting bigger and the debt is just getting worse so am considering iva but wonder if i should wait before enquiring due to the recent debt i have aquired? Thankyou

Hi Nicola -- the way I read this is that you were attempting to ease the bad situation by migrating loans to the zero credit card --- however, you have now realised that this is futile and so must seek further help, i.e. an IVA or somesuch.

I imagine, if you are like I was, the more delay will simply increase the debt as you rob Peter to pay Paul. If so, there is little to be gained from delaying sorting matters out.

Hi I would look at taking some professional advice sooner rather than later. Try www.iva.com for a list of companies and contact 2 if not 3 of these to talk through your options. They will give advice and guidance which will be free of charge at this stage of the process.

I echo lesley and foggy's comments. It will depend on the level of debt and disposable income you have as to whether a IVA is the right approach...use the link provided to gain some independent advice before deciding which route to tie.