Could you please tell me the name of a good company that I can set up an I.V.A with?
I have approximately £27000 worth of debt from my marriage (im seperated now and my wife, soon to be ex, is still living in the house we have a joint mortgage on).
I have been filling in forms to go bankrupt, but surely there is another way.
All this started last Feb when we seperated, and im the one who has been tied to all the matrimonial debts. At first I set up a DMP for 3 months but decided to go it alone.
OK im dealing very well with my creditors and keeping my payments to a minumum, but obviously this debt seems like it will be around my neck when I eventually pop my clogs at this rate.
I have a low income and recieve working tax credit thats not worth the paper its written on.
I'll avoid the first question, as I am an IP and I am not allowed to comment on that type of matter on the forum.
If you wish to avoid bankruptcy, it may well be possible for you to come to arrangements with creditors, either via a DMP or an IVA. The best thing to do would be to contact an insolvency practitioner, and seek advice as to the various options which are available to you.
There is no problem with low income and tax credits, so long as you have some money left over at the end of each month to be able to offer your creditors. An insolvency practitioner can help you to work this figure out, and at the end of the day if you decide that bankruptcy is your best option, at least you will have done this on a well informed basis.
There are different ways to sort out your debt and its important you pick a solution that suits you best, taking all things into account.
You will get more information and be able to discuss your options when you give one or two companies on here a call for free advice. The companies that the experts poasting on here are from are also reviewed on www.iva.com if you want to check them out and see what others have to say. If you have been reading a lot of posts on here no doubt you will have had a good feel for who other posters recommend.
You may end up doing an IVA or DMP or it may be that the outcome ends up you still deciding to file for bankruptcy but at least you will know you have checked out all your options beforehand.
Anything any of us can do to help, let us know.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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