www.iva.co.uk

Thanks for the comments to my original question, and for joining me to the forum. The wife and I are just starting to think about what we're going to do about our debt, I've taken a day off work this week for us to sit down and talk while the "kids" are out.

Normally if I needed a recomendation for a tradesperson (no insult intended) or supplier I'd ask around at work, but with the stigma attached to debt I don't think anyone is going to put their hand up and say "oh yes, we had great help with our debt from......." It's just not gonna happen.

So where do I start? Should I talk to a financial adviser or debt councilor and lay out our situation, or just jump straight to an IVA? Should I be looking for someone local, ask the CAB, or just pick a name at random?

We know that the first step is to list our debts, total it and detail our incoming and outgoings but it's never that simple is it? We're carers for two young people with learning difficulties and for one of them we have all their finances in our name.

Then I've been buying and selling stuff on ebay and similar sites for a few years, but I've no records for any of it and it's going to be hard to explain. I'm afraid to mention it to anyone in case it lands us in even more trouble. Who can I talk to for confidential advice?

It's all these sorts of worries that has kept us burrying our heads in the sand the last few years. Moving the debt from one lender to another and never making any progress on it.

Help! [:(]

Hi ther David.
I would talk to an Ip, they are able to give you all your options and then you can choose the best solution for you. Melanie Giles who posts on here will give you great advice of all the options and also regarding the carers allowances.Melanie's contact is on the experts page . Also you can look at iva. com at their reviews of insolvency practioners and the companies. As yo say moving the debt around does not solve the problem, you need to sort something out so you can reach a definate end.

All the best Ang

yes i will second that get in touch with melanie she will give you your options she comes highly recommended good luck in your choice

Hey David, I agree with everyone else, contact Melanie Giles. Highly recommended. Melanie will go over ALL your options. X

Welcome David and well done for making a positive step towards sorting out your debts, we have all been where you are now and know what you are feeling, best of luck for however you decide to proceed.

First off, no offence to the guys oin this site but go tot he Consumer Credit Counselling Service (CCCS). They helped me out no end and actually offered me some extremely sound advice.

secondly, contact your creditors and ask for reduced payments (if possible) and see how they react. Tell them about the situation your in and see if they can help. Many have reduced payment schemes and will be able to give you a bit of breathing space maybe till you make your decision and see what path you want to take.

BUT, most importantly don't worry. I've been there, been through the mill and managed to come out the other side. It's not easy, but it's not anything new and if you'd worked with me and asked me I'd be more than willing to put my hand up and say "yes, I had a problem".

Debt is only treated in this way becuase people don't want to talk about it.

Good luck... and all the best in whatever you decide to do.

Fingers crossed!

Sharon x

Hi David

Firstly you will find a great deal of helpful advice on this forum from not only experts but also people who have been in the same situation that you are in.

You are right you will need to calculate what money you really have spare but most advisers can help you with this. You mentioned that you are both full time carers which may mean that your income is purely benefit based? If so an IVA may not be the right route as usually it is felt that benefits should pay for whatever they were awarded for.

As for your online selling, it would be better just to lay your cards on the table so that your total debt is apparent. If you are concerned that you have debts to the inland revenue, you should be aware that these could be included in a debt plan with your other unsecured debts.

As for your first step, I think you've already taken it.

Good luck

Hi David

Any insolvency practitioner ought to be able to give you advice on the options available to you as a result of your current financial situation - but firsty you need to work out a budget which you feel you can stick to and therefore see how much you could afford to repay on a monthly basis.

You should not include any of the money you receive for the carer's allowance as part of your dispoable income, as this if for the needs of the children - and I am sure that you probably spend more than that on them in any case.

It is sensible to consider all angles available to you, and to take time to do so. You may find my blog on choosing an advisor helpful as it gives you tips to look out for and things to find out. Often a face to face meeting with an insolvency practitioner can be immensly valuable, and whilst this might involve a day off work, you may find it is the start to resolving your difficulties for good.

Melanie and her team did wonders for us; we would highly recommend them to anyone!

Blue

Hi David
It can't hurt to speak to a few different people and then you can make up your own mind which way you want to go.
As regards eBay, I wouldn't worry about it. I was a powerseller for 5 years prior to the IVA. It was my main concern when trying to find a solution but it wasn't an issue. I was just told to sell what I could beforehand!

Hi David ... I just wanted to say that whatever you decide to do (and there's been lots of advice offered here) ... good luck.

Debbie