Both myself & my husband have joint debts of approx 10,000, most debts should be paid off within 2 years so we are wanting to avoid Iva if poss due to the time period & it affecting our credit score so much.
What would you suggest would be our best solution please?
Best solution cannot be arrived at on these few facts and you need to speak to an Insolvency Professional to discuss the full picture.
When you say most debts should be paid off within two years ----- do you mean that you can afford to do this ? If so a debt management plan would be worth considering. Stepchange or Payplan do "fee free" DMPs, or you could easily go DIY.
Bankruptcy, DRO or IVA would kill your credit rating for at least 6 years.
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
Agree with Foggy -if you can avoid an IVA then do so.
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 depends what you mean by they should be paid off within 2 years. It's best to avoid all of the debt solutions mentioned including Debt Management Plans if possible as all of them will have a long term impact on your ability to obtain mortgages, etc.
IVA Mortgage Expert
Zebra Money Centre