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IVA Help Please
katiekoo25
Posts: 5 Forumite
in IVA & DRO
Hi
I was wondering if anyone could help me, well my brother really.
He has a total of 3 credit cards and a loan totalling £17,000 that
he is struggleing to pay each month- he has not missed any payments
as yet but really cannot afford to pay them off anymore and is considering an
IVA.....do you think this is the best solution considering he hasn't missed any
payments, or do you think he should miss a few payments and then apply
for the IVA? As sometimes they can be turned down.
He is also paying child maintenance, which if he misses he cannot see his child - which is also adding to the stress of making all these payments every month/week.
If anyone can help it will be much appreciated.
Thanks
I was wondering if anyone could help me, well my brother really.
He has a total of 3 credit cards and a loan totalling £17,000 that
he is struggleing to pay each month- he has not missed any payments
as yet but really cannot afford to pay them off anymore and is considering an
IVA.....do you think this is the best solution considering he hasn't missed any
payments, or do you think he should miss a few payments and then apply
for the IVA? As sometimes they can be turned down.
He is also paying child maintenance, which if he misses he cannot see his child - which is also adding to the stress of making all these payments every month/week.
If anyone can help it will be much appreciated.
Thanks
0
Comments
-
he needs to talk to a debt charity - listed here http://www.moneysavingexpert.com/loans/debt-help-plan#help
And perhaps a debt managment plan would be a good idea? pay his essential needs and then divi up the rest beween the creditors.If you've have not made a mistake, you've made nothing0
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