Need advise on DRO, IVA etc.

evelus

I'm 19 years old when I was 18, I decided I would be a idiot and take alot of phone contracts out I was in a desperate situation and ended up in alot of trouble. I currently have 6 Defaults and 2 coming up, is it worth me getting a DRO or a IVA? Or simply sitting out these defaults for 6 years? I'm recently employed and contracted only a few hours these could fluctuate but i'm not in stable employment. I have a bank account i'm in good measure with, I have a small overdraft and I never borrow what I can't afford. Obviously i'm only young and 6 years would only hinder me slightly.

Thanks for your time

fatbelly

Hi Evelus

I had a look at your other thread and there's really not enough information to know whether an insolvency solution would suit you, or what other strategy might.

https://forums.moneysavingexpert.com/discussion/3798165

One thing that did strike me is that you should stop talking to debt collectors on the phone. That just gives them the opportunity to harass you.

If you could complete a statement of affairs that would make things clearer.

A debt management plan based on your basic income might be better.