My situation

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Post by Sekaro7 » Sun Feb 09, 2020 5:21 pm
I am new here and I am unfortunate to be in a situation where my debt has taken over my life to the point where I cannot see a way out.

Here are the details :

Household expenses including mortgage, council tax, phone bill, gas electricity, fuel, clothing etc = £1473.22 per month (close approx)

Loans = £1137.74 per month

Wage = £1995 per month net.

As you can see outgoings are more than incomings, having said that I have sacrificed alot of household expense to cover the cost of loans just to keep my head above water. (currently in overdraft)

Would IVA be a solution for me? I have reduced the household expenses as much as I can to accommodate my loans but it's coming to a point where I'm constantly fearing the worse and I'm in constant stress.

Any advice would be greatly appreciated.

Thank you


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Post by kallis3 » Sun Feb 09, 2020 6:44 pm

You need to speak to a couple of companies for some advice and help to get you sorted.
Sharing from experiences of dealing with debt
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Post by Foggy » Sun Feb 09, 2020 6:47 pm
It is impossible to say if an IVA is the best solution on the facts given, but it is certainly possible. You need to speak to a few IVA providers for a full fact find and examination of your circumstances, income and expenditure.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Lisa Thomas

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Post by Lisa Thomas » Mon Feb 10, 2020 9:16 am
A contributions based \IVA seems possible but we need to know more about your situation to advise.

Best to speak to a couple of IPs for their opinions as to whether an IVA is viable and the best option for you in your circumstances.
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: ... Z5k9ZcC2MA 01752 786800
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