My wife and I have joint debts of approx £35000

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Post by Robert.09 » Tue Jul 27, 2010 9:14 am
My wife and I have joint debts of approx £35000 on four credit cards. we both receive pensions/pension credit and Our net income after paying bills is £575 per month.
Please advise.

Michael Peoples

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Post by Michael Peoples » Tue Jul 27, 2010 9:25 am
Hi Robert and welcome to the Forum.
You should seek some free advice from an insolvency firm to discuss your options. Depending on assets, income and the split of the debts it may be debt management, bankruptcy, IVA, debt relief order or possibly even the sale of assets.

Without more information it is impossible to answer the question but ring an IP firm and they will be able to help. Good luck.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
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Tina Shortland

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Post by Tina Shortland » Tue Jul 27, 2010 9:54 am
Hi Robert - welcome to the forum,

It is important to work out carefully how much you really have left over at the end of each month over the year - have you thought about haircuts, dentist/optical treatment, clothing etc? As any arrangement is based on what you can afford this is the first step. Then as Michaels says depending on your actual circumstances any one of the solutions may be viable for you. Any good company will work out your budget with you, talk through all the options and sicuss with you the implications of each so you can both make the best choice.

Any of the companies on here can help and you can visit to read reviews on these and other companies. You will see on here what other posters have put about the IPs and companies they have used to get a feel for who to ring, and if you're not sure, do ring more than one so you can compare.

Let us know if we can help any futher,

Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.

If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at

If you’re ready to ask us for specific advice or help, then get in touch at so you can start to free yourself from the stress and anxiety of overwhelming debt.


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Post by Shining » Tue Jul 27, 2010 9:56 am
Hi Robert and a warm welcome to the forum.

I would suggest looking at to find a list of companies to talk to. You will gain some case specific free impartial advice.

There will be a solution for you and all debt solutions will be discussed. I would suggest you ring at least 2 if not 3 before making any decisions. All the best x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.


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Post by size5 » Tue Jul 27, 2010 9:56 am
A no obligation chat with a professional or two so that you can explore the ins and outs of the options Michael has suggested would certainly do you no harm at all. Accordingly, visit have a look around, read reviews etc and after you have spoken to 2 or 3 people you can then make your next move from there.

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