scared and confused, what do you advise

[orville]

Hi, im scared and confused, we have unsecured debts of around 60,000, no consolidation loan will touch us due to our equity. IVA seems to good to be true, I have contacted a well known and credited company who have advised me that in their opionion everything looks great for us to go ahead and it is our only real option. I do believe them but I am very unsure and I need to convince my husband. What do you advise

[Wizzard]

Welcome to the Forum Orville

I can't give advice other than its the best decision I've made in a long time. We have many experts on here and I'm sure they will help as best they can. Good luck

[MelanieGiles]

Hi Orville and welcome to the forum

IVAs are not too good to be true - used in the right circumstances, and with a person committed to paying off their creditors to the best of their ability, they are an excellent way of dealing with your debts.

Have you personally met anyone from the company you are dealing with, and have they discussed other options with you so you can be assured you have received rounded advice?

[plasticdaft]

OOOO I hate that duck!!!!


Welcome to the forum. What company did you go to for advice??

IVA's do often sound too good to be true,but they are no walk in the park,and involve releasing equity from your home(if there is any) and living on a budget for several years,though for most in debt trouble,its not a hard decision to make.

I had 78k worth of debts and buried my head in the sand for many a year until I had no credit cards left to transfer balances onto.

If hubby needs convincing,ask him to sit down with pen and paper and work out a better way to get out of your troubles(without breaking the law!!!)

[Viki.W]

Hey orville, welcome to the forum. You're in a great place here for advice and support. Which company are you using? X

[moretolife]

plastic daft....what duck???!!!!

oh i get it.....orville...duh...

sorry to be sooo thick..

anyway.orville welcome to the forum...i dont mind orville at all...

we were 90,000 plus in debt so like you ..we thought nah...no way ...but here we are two years on...

hope you and hubby make the right decision for you both

[plasticdaft]

Little tangent, but what was the monkey keith harris regularly had his hand up??? I cant remember and its annoying me!!!

[Viki.W]

Cuddles.[:o)]

[chardonnay]

Hi Orville and welcome to torum.
You'll get all the help, support and advice you need here so keep posting.
You've just joined a super family!!
Hugs,
Chardonnay

[plasticdaft]

Cuddles.[:o)]

aww thanks,big hugs back to you too [:D]

[orville]

Hi guys, thanks for posting to me. The company I rang was Bains and Ernst, but I was a bit concerned about how quickly they wanted to move and the up-front fees. I rang Citizens Advice who told me that they recomend Payplan as they do not charge fees and the money we pay back would all go on our debt. I have spoken to my hubby again and he is more unsure than me. I managed to get him on the internet to find our about IVA's, I am just not sure what to do next. This formum is great because I cant talk to my closest friend about this or my biggest champion, my sister.

[luluj]

Why not approach a couple of other IVA providers - Melanie who posts on here is favoured by almost all as a good option! We're with Debt Free Direct and have no issues with them in the last twelve months since ours was approved.
We had similar level of debt to you and we did not want to go bankrupt because of my job - IVA for us is the right thing to do - it does give you control backof your life, and if you manage it correctly you do not need go without - it brings it back to basic and teaches you a hard lesson on budgeting skills - but it is very satisfying to know that I have no one that I am owing to !

[indebtforever]

yes there are many firms that dont charge upfront fees dont pay them as in some cases of failure you would lose the money do yourself a favour and talk to the experts on here who will give you your options one who is highly recommended is melanie giles you have done the hard bit confronting the issue and getting help that will set your mind at rest

good luck keep us posted

[angelrainbow]

I am two weeks from creditor's meeting, and like you at the start thought an IVA was too good to be true. Now I can see that it certainly isn't an easy option at all. Yes, we will be debt free in 5 years (positive thinking for the meeting!) but we can't save and will basically have to count and allow for every single penny that comes in.

[indebtforever]

yes its a slog i have a lot of admiration for people who manage to last the course in an IVA.I wont lie i have been in one 3 years and its constantly on my mind but i think i was lucky in that i dont hear from my ip for every 13 months when the review is due, some on here need to send payslips etc every 3 months.i have 4 kids so then you have the worry of xmas at about june no hols again this year also but we are surviving.i am just dreaming of the day it will be all over but we are all different it will maybe be ok for some

sorry to sound so glumy[:I]