Which iva company should i choose?

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nandor
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by nandor » Thu Sep 27, 2018 7:35 pm
Which iva company should i choose?
Have 3500 debt on 3 credit cards
I was able to do minimum payments until now
Capital one decided to change minimum
Payments from 85 to 135 next month
They saying the goverment
Made them do this to help people with long
Term debts. I have this debt for 5 years now.
Please send me advices

Thank you
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Foggy
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by Foggy » Thu Sep 27, 2018 7:51 pm
A debt of £3500 wouldn't warrant an IVA. Possibly a debt management plan (DMP) would be a better option, but you need to chat with a qualified professional to explore your options.

I would suggest a chat with Stepchange for a DMP as they do not deduct fees from your payments, being funded by the banks.
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Lisa Thomas
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by Lisa Thomas » Fri Sep 28, 2018 10:49 am
The debt is too small for an IVA - either reach an agreement direct with your creditors or consider a DMP as Foggy suggested.
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jonathah
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by jonathah » Sun Sep 30, 2018 8:40 pm
At this level and for the reason stated, negotiating direct with Cap 1 would be my option. They do deals routinely You're not the only one with the problem. Try and get them to freeze the interest. This is what causes the problems on high APR debt. . A debt advisor at the CAB or whatever community advice you have near you might be able to help if you just can't face talking to a creditor.
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kallis3
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by kallis3 » Sun Sep 30, 2018 8:53 pm
If you have no assets you could consider a DRO,
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