I am currently dealing with mental health issues which have not helped in gaining £100k in debt between myself and my partner. I have had a huge reduction in income as i am only on SSP. My partner is self employed so his income is variable. I am not going to be able to return to my current employment. I have filled everything out with Business debt line and they have said to look at an IVA. My concerns are regarding the likely hood of it being accepted as we only have £150 per month to offer them which seems unlikely to me. Also as I am not working at the moment the budget planner is lower in some areas such as fuel, food. If I am able to return to a small job can i increase the outgoing budget to reflect the higher costs?
Sorry to hear of your health problems. An IVA could be a solution for you so I would speak to one or two firms before making a decision.
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
An IVA -- or two interlocking arrangements, might be a way forward, but other solutions might also be available, depending on the whole picture. You should speak to a few firms ( they are not all the same in terms of service) to compare advice.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi sorry to hear about your health problems.
I’ve just started my iva and work part time around my baby, and my monthly payments are £92 a month for 5 years, maybe chat to a few company’s get the best advice for you and your family.
I'm sorry too - to hear about your health problems, I'm sure once its all sorted and you know where you stand, you will get some kind of help structure to all this. Wish you all the best.
I wish you well on your health issues and suggest like others, a conversation with one or two debt companies to seek a viable way forward for you.
An iva is just one debt solution, there are many others, which depending on your full circumstances can be explored to ensure the one that is most suitable is followed.
On a personal note, please continue to seek support for your mental health issues ...as a qualified Mental Health First Aider I know there is lots of support on offer to you, and the importance of talking, and seeking ways of coping is important - don't ever feel alone and unable to talk....
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
