I am new here. I have just started looking into an IVA as I think it’s the only option for me now as credit card and loan debts are slightly out of control
I have been talking to some Iva place about getting one set up. I just wanted some advice on this.. I am about to change job.. the salary will work out roughly the same as what I earn now but possibly slightly less... do you think it’s best to try and sort an Iva before I leave this job? Or when I’m in my new one?
Please help I don’t know much about all this !
I too have just decided an IVA is our only option after amassing a crazy amount of loan and credit card debt. I have been speaking with a few companies and have chosen a smaller one listed on the expert page of this forum. He has been fantastic and answered all my questions queries and concerns. I suggest you contact one through this site and explain the situation with your work and changing jobs. They will advise you on what to do. Your IP needs to understand your whole sitiation so my advice is go for the smaller more personal companies (contact details on here) rather than the larger IVA "factories " as they are called on here. You need that personal touch and a full understanding of your situation.
Personally I would avoid the large companies where you are just a number and look at the small / medium firms who will treat you as an individual and where you can also speak to your IP directly, if needed.
You could get something started now but then complete the figures once your new income is known...
What you don't want to do is get a figure/IVA agreed only for your IP to have to immediately review it because your job has changed.
I also wondered, and I know everyone’s situation is different, but is it likely my creditors would reject do you think, on the basis that I never actually miss my payments.. I don’t think I ever have.. maybe once in 5 years but that’s all.. so it’s not like I’m not paying them, it’s just that all my wages basically go on debt now (loan amounts and credit card minimum amounts), that what I have left to live on in small - hence using a credit card again - really is a vicious circle!
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