IVA or Not 20k Debt

hannah814

Owed To Amount Monthly payments
Egg £11,234.00 £236.00
Virgin £3,200.00 £123.00
Halifax £1,813.00 £60.00
Lloydstsb £761.00 £60.00
RFS £3,100.00 £125.00
TOTALS £20,108.00 £604.00

I bring home £1163 per month.. I also have £45 for phone bill and £28 car insurance.

I transfer £400 to another account and I get my petrol from that which on average = £170 per month. I only use my car getting to and from work. I have no house and partner won't put me on the mortgage whilst I have this debt.

Getting really concerned that if anything happens, I iwlll have no rights and be homeless as will not be able to afford to live on my own.

I am 25, no kids. Please any advice would be welcomed.

hannah814

Owed To Amount Monthly payments
Egg £11,234.00 £236.00
Virgin £3,200.00 £123.00
Halifax £1,813.00 £60.00
Lloydstsb £761.00 £60.00
RFS £3,100.00 £125.00
TOTALS £20,108.00 £604.00

Sorry layout wasn't that understandable before

james32_uk

With a debt of 'only' £20k an IVA is not likely to be your best bet. Likelyhood is on a DMP with a bit of belt tightening you could be debt free in no more than 5 years.

Post an SOA and people will give you some great help on areas to cut down relatively painlessly. Contacting CCCS or Payplan is a great move.

jay78

hannah814 wrote: »

Owed To Amount Monthly payments
Egg £11,234.00 £236.00
Virgin £3,200.00 £123.00
Halifax £1,813.00 £60.00
Lloydstsb £761.00 £60.00
RFS £3,100.00 £125.00
TOTALS £20,108.00 £604.00

Sorry layout wasn't that understandable before

What are the aprs for these cards?