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IVA- any help/ advice would be great!!!
Hi everyone, I have spent a long time reading the comments posted and I am glad to say it has helped greatly.
I have recently separated from my husband. I have 2 children and am taking responsibilty for the house and bills. He will pay £230 towards the children each month. I earn just over £2000 per month and can just about cover everything- except debts. I have been talking to a lot of people e.g payplan- have sent token payments this month. After reading here have also made an appointment with CCCs. I have been advised that an IVA is my best option.
Income= 2145, 134 Child benefit, 230 From OH. Tax credits are being recalculated but as the word is they will possibly go is there much point in thinking about them.
expenses= 2150
Concerns
1. My house is in negative equity- what happens if this changes
2. I am on interest only until april then it is due to up £300- My car is due to be finished by this time and so should cover the difference.- what if it does not.
3. I am on a fixed rate for 2 mores years. What happens if the new interest rate cripples me & I can not afford the IVA payments.
4. I am due to take over a maternity cover which would mean £250 per month better off for 6 months only- do i have to declare this.
5. £37000 in debts. 30000 in my name (even though spent by both of us) and the rest in joint. How would this work in an IVA.
So sorry this is so long, do not know if anyone can help me with any of these concerns. I just think about this every second. I am someone who likes to act and when things are sorted I know I will feel a lot better.
I have recently separated from my husband. I have 2 children and am taking responsibilty for the house and bills. He will pay £230 towards the children each month. I earn just over £2000 per month and can just about cover everything- except debts. I have been talking to a lot of people e.g payplan- have sent token payments this month. After reading here have also made an appointment with CCCs. I have been advised that an IVA is my best option.
Income= 2145, 134 Child benefit, 230 From OH. Tax credits are being recalculated but as the word is they will possibly go is there much point in thinking about them.
expenses= 2150
Concerns
1. My house is in negative equity- what happens if this changes
2. I am on interest only until april then it is due to up £300- My car is due to be finished by this time and so should cover the difference.- what if it does not.
3. I am on a fixed rate for 2 mores years. What happens if the new interest rate cripples me & I can not afford the IVA payments.
4. I am due to take over a maternity cover which would mean £250 per month better off for 6 months only- do i have to declare this.
5. £37000 in debts. 30000 in my name (even though spent by both of us) and the rest in joint. How would this work in an IVA.
So sorry this is so long, do not know if anyone can help me with any of these concerns. I just think about this every second. I am someone who likes to act and when things are sorted I know I will feel a lot better.
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