While waiting for cccs IVA

loopylou2_2

Hi I am hoping to apply for a cccs IVA but in the meantime should I offer the credit cards an amount that I can afford?

I have seen this form on the internet showing amounts owed and pro-rata payments offered below. Should I send them this or wait and see what cccs says?
Thanking you in advance for any advice

DISTRIBUTION OF AVAILABLE INCOME
STRICTLY PRIVATE AND CONFIDENTIAL

INCOME & OUTGOINGS

Monthly Income :

� 460

Monthly Expenditure :

� 150

Available Monthly Income:

� 310

Creditor



Amount
Outstanding Pro Rata Monthly Payment
mbna visa

� 6000 � 42

mbna mc
� 1900 � 13

barclayloan
� 12000 � 85

barclays overdraft
� 4000 � 28

barclaycard
� 5000 � 35

capital one
� 5000 � 35

alliance & leicester
� 5000 � 35

egg
� 5000 � 35

TOTAL
� 43900 � 308

This is an accurate record of my financial position as at: ___________________________
Signed:____________________________________________

loopylou2_2

I forgot to say that all the debts are in my name and my husband is going to pay all the household expenses so that I can put most of my wages into the IVA.

Any advice appreciated
Thank you

~Beanie~

I have no experience of this but personally if it were me, I would wait and see what CCCS say. They may not think that an IVA is the best solution for you.

Deep_In_Debt

Hi
Do you have property to protect or any other assets? With an IVA they will strip you back to the bare minimum which is rarely negtioable (sp?). I.E. a lot can happen in 5 years. Please do consider very carefully.

Good luck.

loopylou2_2

Hi thanks for replying

I have no property or anything of value.

I filled in the form on cccs website and it did recommend IVA so I have given them my phone number and address to arrange the IVA.

I just don't know what to do in the meantime about the letters and phone calls from the credit card companies.

I have not paid them for about 6 weeks as my husband has been unwell and unable to work his full hours. (he is self employed)

He is having an operation next week so things should improve soon but I still think IVA is in order because I am not even managing to cover the interest on the credit cards.

For ages now I have been borrowing from one card to pay another :embarasse- now it has come to the point where they are all maxed because the balances were just getting bigger due to the interest

Also they have put up the minimum repayments so I was thinking of just splitting most of my wages between them for now as in my post above.

I just don't know if I should do that or just offer a token payment or ignore the letters and phone calls until an IVA is (hopefully) agreed.

I just joined today after years of worrying about my financial situation thank you for any advice