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.
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
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
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 http://foggy.blogs.iva.co.uk