Hi, I have a total debt of £60,000 out of which, £26,000 is personal loans which i am servicing on a monthly basis and the £34000 is credit card debt. I have been paying the interest on it. I am interested in getting an IVA to cover the credit card debt and see if i can combine all three into one payment. I can afford to pay upto £500 a month to service the debt.
You need to speak to one or two companies and give them your full details for further advice.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
All unsecured debts have to be included in an IVA and, yes £500 per month on a £60k debt sounds workable. But whether an IVA is the best way to go depends on many other factors and you do need to have a chat with a couple of firms to compare advice and to work out an accurate Income and Expenditure (I&E) to arrive at the correct payment level.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk