we cant keep up repayments

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elel

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Post by elel » Tue Aug 14, 2007 1:04 pm
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hello my husband and i are 25K in debt we cant keep up repayments, is an iva best or go bankrupt and start again?
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jpj

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Post by jpj » Tue Aug 14, 2007 1:08 pm
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depends how much you earn, if your in employment,if you own your own home etc....lots to take into account!
JPJ
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Sadsack

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Post by Sadsack » Tue Aug 14, 2007 1:25 pm
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Hi elel and welcome to the forum

Could you post some more details regarding your debts. This would give others on this forum a bit more to work with and a better chance of advising you.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/
Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/
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Garcia Jones

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Post by Garcia Jones » Tue Aug 14, 2007 2:21 pm
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You need to advise the courts of any assets that you may have eg house, shares etc.

The courts will look at your DI and if there is enough to undertake an IVA they could propose this though them.

In the meantime check with a Debt Management Company or IVA Provider and see what your options are.

Remember it is always best to check out your options then to go stright for Bankruptcy

Gary Coker
Gary Coker
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iva experts

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Post by iva experts » Tue Aug 14, 2007 2:29 pm
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Welcome to the Forum Elel !

To determine what the best solution is for your debt problem, we will need to know abit more information.

- Who are your creditors?
- What is your monthly disposable income? (income minus living exp)
- Do you have a house with equity?

I would advise that you contact at least 2 or 3 debt solution companies before making your decision.

Best Regards. IVA Experts
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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Oliver

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Post by Oliver » Tue Aug 14, 2007 2:59 pm
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This question would entirely depend on the circumstances to your case and your individual feelings towards bankruptcy and paying your creditors back to the best of your ability. Please post some more details so we can advise further.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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