Page 1 of 1
Posted: Tue Feb 06, 2007 7:28 pm
by jools
When asking about outgoings and disposable income in the IVA wizard, do I include the monthly payments already being made by me on credit cards and is monthly income before or after deductions. According to the wizard it can only recommend bankrupcy, I find this confusing when my payments to creditors are the main reason for having no disposable income. These three payments ammount to £660 per month, which I am managing to pay, but only just.
Posted: Tue Feb 06, 2007 7:56 pm
by 123debtsolutions
Hi Jools
My advice is to call and speak to a financial advisor. They will complete a small assessment with you over the phone and then offer specific advice based on your personal circumstances.
Take expert advice from one of the companies on this forum.
Good Luck
Lee
www.123debtsolutions.co.uk
Posted: Tue Feb 06, 2007 9:33 pm
by MelanieGiles
Hi jools
You should not include the payments you are making to unsecured creditors ie your credit cards, and put in your take home income rather than gross salaries.
Do you have only three creditors in total? An IVA can be tricky to propose with so few debts. I suggest you have another go and see if it throws up a different answer.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at:
http://melaniegiles.blogs.iva.co.uk