www.iva.co.uk

my debt is lower than the 15.000 quoted. my income will reduce next month and even though i am not in arrears with my bills yet i know that i am not going to have enough money to cover my living costs. What do you recommend?

Hi
There are a few options open to you.
Can you post more details such as home owner or not,equity etc etc.
Then one of the experts can help you further.
regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

Hi joanne

It seems that some form of debt management programme would be appropriate for you - either managed or run by yourself. Work out what your disposable income before debt repayments is likely to be when your salary reduces, and divide this by the amount you owe to give some indication of the length of time you will need to repay your debt over. This of course will not include ongoing interest charges, so the period will be extended in the event that creditors continue to charge interest.

Alternatively, if you have no assets, you may well see bankruptcy proceedings as a better option.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk