www.iva.co.uk

Currently working 18hr day and earning about 25k before deductions and have approx 37k of debt
Ive advise some people here, that I have rent free tied accomodation, but I am looking to get out and change career.
After speaking with a nice lady from Melanies team, it all looked possible to run down the IVA route as my new career was going to earn approx 23K to 25K but with less hours.
Going through my monthly expense, the total ammount is about 1600, so what I would earn and add income benefits for my children, wont leave the creditors very much. if anything

The problem is that most of the LGV jobs pay on an hourly rate which range between £7 and £9 for the class two licence I have.
Then comparing this hourly rate to my main job, I earn £10.41 before deductions[:(]

I cant see forward, it seems that I am trapped where I am
[:(]
Or should I just bite the bullet and move in to rented accomodation, stop paying my creditors and look at Bankuptcy

homer - i cant really advise you, but surely you cant keep the 18 hour days up indefinately!

a expert should be along soon to advise you!

barb x

Hi
If you have no disposible income,or very little you should consider bankruptcy.
Melanie will go through each option with you and will give you straight,honest advice
Regards

You should certainly not enter into a voluntary arrangement if your income is doubtful. If you can see no way of being able to offer a sensible repayment plan to creditors, then bankruptcy is probably a better option all round, but give this some thought before you make a final decision as you have other things to consider such as a roof over your head and your family.

Hi Homer

just a thought before you make a final decision. If you are getting into serious creditor pressure why not start a debt management program for a fixed time ( say 6 months)

this would lessen the creditor stress and allow you time to see if you can get a different job that you enjoy.

At that point you can review your income / exoenses and review with Melanie the viability of an IVA.

Not quite having your cake and eating it but not making a quick decision that you might regret and allowing yourself a fixed time to review the options.

If you want to explore this give Andrew Graveson from bright Oak a call as he has an excellent debt management team and can then work with you and melanie to a suitable conclusion.

just a thought