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Advice please
Hello.
I dont have a clue whats what IVA etc.
Basically I have 3 loans paying approx 150 each per month and a credit card bill on approx £2000. roughly £15,000 worth of debt all added together.
One of my loans is with cahoot and its just not getting anywhere. my credit rating is so messed up. I am affording to live ok and coping with what i earn and not getting into more debt (although this has been in my £2000 overdraft for the the past year - i never come out of it).
I was telling a work colleague about my situ and they suggested something like an IVA (which i dont know much about). i tend to just ignore my debts as i know my payments on my loans arnt getting anywhere.
can someone tell me if something like this would be the right thing for my situation and help me sort my finances.
oh ps, what are the consequences of things like this. are you still able to have a bank account and use a debit card?
tks.
I dont have a clue whats what IVA etc.
Basically I have 3 loans paying approx 150 each per month and a credit card bill on approx £2000. roughly £15,000 worth of debt all added together.
One of my loans is with cahoot and its just not getting anywhere. my credit rating is so messed up. I am affording to live ok and coping with what i earn and not getting into more debt (although this has been in my £2000 overdraft for the the past year - i never come out of it).
I was telling a work colleague about my situ and they suggested something like an IVA (which i dont know much about). i tend to just ignore my debts as i know my payments on my loans arnt getting anywhere.
can someone tell me if something like this would be the right thing for my situation and help me sort my finances.
oh ps, what are the consequences of things like this. are you still able to have a bank account and use a debit card?
tks.
0
Comments
-
Hi
Theree are a lot of very dodgy IVA companies who advise in the red top newspapers and day-time TV.They are to be avoided.
IF one is suitable, you should only do it if recommended by one of the debt charities listed here http://www.moneysavingexpert.com/loans/debt-help-plan#help. CCCS reckon IVAs are appropraite for 3% of their clients and our bankruptcy forum is full of people whose IVA failed..
A much better idea would be to put up an SOA on here and lets see what can be done with your situation.If you've have not made a mistake, you've made nothing0
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