Need advice on DRO/IVA

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

Depth_Charge

evelus wrote: »

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

Hi

Both a DRO or IVA may be a little drastic depending on your full circumstances and future aspirations perhaps.

Could you put up your full Statement of Affairs (SOA) as it may assist people in helping your further.

Always best to get full advice on all your options before deciding on anything really, preferably from a FREE charity agency such as CAB, CCCS & National Debtline

In the meantime maybe have a look through below at the CAB, CCCS & Nat Debtline Debt Remedy / Advice & Information Resources / Tools as these may give you some pointers etc

https://debtremedy.cccs.co.uk/start.aspx

http://mymoney.nedcab.org.uk/moneyadvice/

https://www.mymoneysteps.org/

wba31

Depth_Charge wrote: »

Hi

Both a DRO or IVA may be a little drastic depending on your full circumstances and future aspirations perhaps.

Could you put up your full Statement of Affairs (SOA) as it may assist people in helping your further.

Always best to get full advice on all your options before deciding on anything really, preferably from a FREE charity agency such as CAB, CCCS & National Debtline

In the meantime maybe have a look through below at the CAB, CCCS & Nat Debtline Debt Remedy / Advice & Information Resources / Tools as these may give you some pointers etc

https://debtremedy.cccs.co.uk/start.aspx

http://mymoney.nedcab.org.uk/moneyadvice/

https://www.mymoneysteps.org/

I agree with this, you may draw up a budget and find you can afford to pay with a bit of planning, and may not be insolvent at all. I'd recommend using an online tool or picking up the phone to one of the above and getting some free advice