www.iva.co.uk

Hi had a phone call today off RBS as I am only making minimum payments. The lady suggested calling the collections department to work out what options ar available.What can they offer me to help my situation(owe them £4K other lenders £21k all unsecured) as other lenders I have spoken to have basically said they won't do anything until I miss a payment.If I agreed to some kind of alternative payment plan would it affect my write o apply for an IVA in the future. At present I am just treading water, enough money to live but debt not reducing.

Thanks

Mike

Hi, why not talk to 2 or 3 companies to ascertain what help is available to you and the best course of action to take to begin reducing your debt. www.iva.com lists some companies.

I don't think by agreeing to a repayment plan it would affect starting an IVA in the future if you're not ready to take that step yet.

There's no problem applying for an iva if you have a payment arrangement with your creditors. I had reduced payments to several of mine prior to proposing an iva and no problems at all.

Thanks for the advice will give them a ring to see whats on offer

How much do you think you can set aside to fund creditor repayments on a monthly basis Mike?