My son is a single parent looking after his son

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Joyce.60

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Post by Joyce.60 » Thu Jul 22, 2010 11:49 pm
My son is a single parent looking after his 3 years old son. He has been left with a lot of debt approx £15,000 and signed up with a Debt Management company but has not been able to pay this for the last 4/5 months as he is struggling to get his benefits which he is entitled to. Would he be able to do an IVA instead with a lower figure to repay or would the level of debt he has exclude him from this scheme. Thank you for your help. Joyce
 
 

MelanieGiles

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Post by MelanieGiles » Fri Jul 23, 2010 12:27 am
Hi Joyce and welcome to the forum

How much is he paying into his DMP at the moment, and has he also considered bankruptcy proceedings?
Regards, Melanie Giles, Insolvency Practitioner
 
 

Shining

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Post by Shining » Fri Jul 23, 2010 3:49 am
Hi Joyce and welcome to the forum.

Does your son have any assets that would be affected by bankruptcy?

I hope his benefits are sorted out very soon. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Fri Jul 23, 2010 7:37 am
Welcome from me as well.

Why not get your son to speak to a couple of experts for advice? If he visits www.iva.com he will find a list of companies and reviews and the advice is free and impartial.
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
 
 

Julie

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Post by Julie » Sun Jul 25, 2010 7:03 am
Hi Joyce and a warm welome to the forum,

If you can post a few more details,we'll try and advise.

xx
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