I can't keep robbing Peter to pay Paul.

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hayley
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by hayley » Sat Apr 15, 2017 6:45 am
I have got a lot of debt in my own name. I am disabled I do not earn homework and only received my disability benefits and tax credits etc. My husband has his own debt which would I have to be affordable if I took an IVA. My husband has recently started his own business which has yet to flourish and make money but I need to know that my IVA would not affect his new business, our family home which is mortgaged all my children, they have no savings. I can't keep robbing Peter to pay Paul.
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Foggy
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by Foggy » Sat Apr 15, 2017 8:41 am
Hello Hayley and welcome. Depending upon the level of your debt an IVA might not be the best, or only, solution. I would suggest you have a chat with a couple of firms to discuss the full picture and explore options. I cannot suggest a specific firm, but would personally avoid the "IVA factories" and look at smaller firms where you are seen more as an individual and can contact the IP directly if needed. Having a read around the forum will throw up the good and the bad (from experience) as well as highlight the usual bugbears we all have.
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luluj
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by luluj » Sat Apr 15, 2017 3:41 pm
I agree with foggy - expert advice will help to identify the best solution for you and your family.
Everyone has different circumstances and one size does not fit all - certainly in a debt situation.
Take time now to investigate and it will help in the long run.
I used to rob peter to pay paul and you can only do it for so long ... take some advice from experts and I am sure they will identify a solution for you.
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Lisa Thomas
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by Lisa Thomas » Tue Apr 18, 2017 9:59 am
As Foggy has pointed out an IVA might not be the best solution for you.

A DRO or BKY might be better, depending on your circumstances.

As a starting guide you might want to have a look at this:

https://www.youtube.com/edit?o=U&video_id=TgalT1vhn6M
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