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IVA or not IVA?
hi all,
first post here although have read a few discussions on the forums from what must be one of the most amazing online communities out there, truly refreshing to see.
I've been paying back 2 personal loans and a credit card (owe circa £20k) for circa 5 years. CC is a killer but cant consolidate it at the moment.
I am now at the point of wanting to sort this out once and for all, as income is not what it was and servicing my repayments are becoming more unlikely and I will inevitably fall behind before too long.
I believe I qualify to be eligible for an IVA however see many negative comments on this site that is making me cautious.
I wanted to gauge general consensus as to which route to take to alleviate the debt issues I face. I have tried to pay it back, and honestly feel ashamed (even though they are bankers) that I can't do it.
Is it worth seeking to deal informally with the lenders to 'do a deal' before bankruptcy or go with either the IVA or bankruptcy routes.
Any comments at all welcomed as I have only just pulled my head out of the sand, as it were.
first post here although have read a few discussions on the forums from what must be one of the most amazing online communities out there, truly refreshing to see.
I've been paying back 2 personal loans and a credit card (owe circa £20k) for circa 5 years. CC is a killer but cant consolidate it at the moment.
I am now at the point of wanting to sort this out once and for all, as income is not what it was and servicing my repayments are becoming more unlikely and I will inevitably fall behind before too long.
I believe I qualify to be eligible for an IVA however see many negative comments on this site that is making me cautious.
I wanted to gauge general consensus as to which route to take to alleviate the debt issues I face. I have tried to pay it back, and honestly feel ashamed (even though they are bankers) that I can't do it.
Is it worth seeking to deal informally with the lenders to 'do a deal' before bankruptcy or go with either the IVA or bankruptcy routes.
Any comments at all welcomed as I have only just pulled my head out of the sand, as it were.
0
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