www.iva.co.uk

Hi, i have financial difficulties. I am thinking of IVA, but i really don't want to get IVA. I need advice. My monthly outgoings is £1000, my monthly wage is £1250. So it leaves me £250 to survive whole month, i cant tell that's enough, but i can manage. Is it worth to apply for IVA, or shall i hold on another 4 years before i pay all my debts?

Hi

When you say £250 to survive for the month what do you mean by that? Is your food etc included in the £1000 outgoings?

I am confused by your reference to 4 years. Are you saying they will take you 4 years to repay? If so, I don't see any benefit to you in doing an IVA.


Unless I've missed the point?

Ian

It is difficult for us to advise at all without knowing how much you actually owe to your creditors. Could you confirm this please, and also whether you are a property owner with equity.

Hi,
I owe around £23000 to my creditors
I pay £464 per month for unsecured loans (3 creditors)
£302 mortgage
£112 car finance

£878 all together per month

I live with parents at the moment, so i don't have to worry about food expenses, and bills.

It leaves me around £250-£300 every month

Hi

Are the 3 unsecured loans part of, or in addition to, the £23k?

Also, I note you say you pay a mortgage. Can we have further details please eg is it on your parents house?

Thanks for replay
I have £23000 in in unsecured loans,
and mortagage is on joint name me and dad, but due is my dad disable, i am the one who pays it-£302 per month this includes house insurance, £260 without insurance

I think it is worth your while being assessed for suitability for an IVA. Clearly a number of other factors need to be taken into account. I recommend that this be in a confidential discussion with an IP firm. Only when you have been properly assessed can you be told the right solution but an IVA does look a possibility.

Ian

I just wanted ro say why not speak with a COUPLE of IP providers to ensure you get the ultimate advice

GOOD LUCK HERE'S HOPING AN IVA IS FOR YOU THEY DO WORK