IVA or IMP ?????

Sue**_3

Hi everyone. This is the first time I have written anything on this site. I have been reading the website and wow its great sooooo much information !!! But there's so much to be honest Im not sure where to look first.
Anyway I'll get to the point. I have debts of £18,000. To help me manage it I contacted a company who has made arrangements with the banks for me to pay a mimimum ammount each month. This is helping as I am now being able afford my payments - im sure everyone konws how it works. Well I spoke to the company this week and they have suggested I went for an IVA. Im nw confused what to do for the best. I want to pay off my debts but am not sure which is the best way to do it. I am not a home owner, I work full-time on a low wage. Also should I contact the banks and make arrangents directly with them so I am not paying a company administration charges to them ??? I would very much appreciate any help...many thanks. Namaste

Ellabelle

I would suggest you phone CCCS (Consumer Credit Counselling Service) for advice. They are a charity who can advise you and set up a completely free (no catches) 'debt management plan' if they (and you) think that is the best option for you.

CCCS Tel: 0800 138 1111 (freephone from landlines)

www.cccs.co.uk

Another more experienced debt free wannabe will probably be along tommorow with further advice. They are a lovely, kind, super helpful bunch :-)

Regards

EB

Hannah_10

That company stands to make thousands from persuading you to take out a DMP. Read this... IVAs are they worth it?: Free guide to download and print

Then read this to find some unbiassed advice that will help you... Debt Problems: What to do & where to get help

Sue**_3

Thank you so much for reading my thread and replying so much advice, I will certainly take it. Thank you :T