Is an IVA the best option for me?

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sarah296

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Post by sarah296 » Wed Jan 08, 2020 2:38 pm
Hi,

I am at 32 single mother of two. I privately rent a property and am struggling to get on top of everything. I am in around £8000 worth of debt to around 10 creditors. I have been advised an Iva would be the best option for me and they are in the process of doing my proposal. A friend of me has told me it isn't a good option. But i also don't think a debt relief order is an option for me either as I have more than £50 of disposable income. I am an estate agent an I take home between £1560-£2000 per calendar month depending on commission. Please could you help me. Thank you.

Kind regards,

Sarah

Foggy

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Post by Foggy » Wed Jan 08, 2020 2:43 pm
Might I ask who has advised the IVA ? It is a drastic step for a debt of that level and maybe a debt management plan through Stepchange could be an option.
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

sarah296

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Post by sarah296 » Wed Jan 08, 2020 2:55 pm
the money advice group, someone called Aiden. I have also spoken to Bennett jones insolvency who have said THEY WOULD BE MANAGING IT.

kallis3

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Post by kallis3 » Wed Jan 08, 2020 3:03 pm
I would speak to more companies who may be able to give 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

sarah296

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Post by sarah296 » Wed Jan 08, 2020 3:16 pm
Thank you.

Keith White

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Post by Keith White » Wed Jan 08, 2020 4:07 pm
Certainly worth talking to other companies. 2 questions for everyone considering an IVA - is it the right option for me and then secondly, who are the right company to run it through.
Keith White, IVA advisor at iva.com
Contact me at http://www.iva.com/about-us/keith-white

Foggy

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Post by Foggy » Wed Jan 08, 2020 4:35 pm
Wed Jan 08, 2020 2:55 pmsarah296 wrote:
the money advice group, someone called Aiden. I have also spoken to Bennett jones insolvency who have said THEY WOULD BE MANAGING IT.
Ah. So you have been sold on to the actual provider. Personally I would look elsewhere for advice.
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

Lisa Thomas

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Post by Lisa Thomas » Wed Jan 08, 2020 5:00 pm
I'm not sure an IVA is actually the best option best on what you have told us. Best to get a second opinion.

I'd be happy to chat to you.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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