will debt management or an iva is better for me.

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ujo

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Post by ujo » Wed May 07, 2008 6:17 pm
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what will be more advisable for me I have debts of £16000 and earn around £1400 per month and can afford to pay at least £500 a month to my creditors (4 different credit cards)but my job looks unsecure and will probably lose it in a years time so will debt management or an iva is better for me.
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MelanieGiles

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Post by MelanieGiles » Wed May 07, 2008 7:02 pm
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Hi there and welcome to the forum

You ought to look at a Debt Management Plan, but if you can afford payments of £500 per month I would have thought that you could meet the minimum repayments in any case?
Regards, Melanie Giles, Insolvency Practitioner
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Andrew Graveson

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Post by Andrew Graveson » Thu May 08, 2008 10:24 pm
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Hello ujo,

It certainly looks as though a debt solution such as a DMP or IVA would be unnecesary currently if you can afford £500 per month.

If your question relates to how to deal with the debt in the event that you lose your job in the future it's going to be very difficult to present ideas to you.

I think if the worst happens you might want to revisit the forum and explain the circumstances at the time.

Fingers crossed that you do not need to.
Andrew Graveson
Bright Oak Ltd
UK Debt Management Company
Website: www.brightoak.co.uk
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