IVA confused help please

lauren891

Hi

Looking for some advice. I have approx 26k debt and struggling each month. I am married but this is my debt not my husbands and am a home ownner with approx 12k equity.
I am thinking of applying for a IVA but are they the answer? and also unsure on which company to approach.
Any advice would really be appreciated.

milliemonster

an IVA may or may not be the answer, you need to speak with a professional who can highlight all your options so you can then make an informed decision. You can start with one of the debt charities but be warned if you go through Stepchange and wish to pursue the IVA route, they will forward you on to Grant Thornton only, may people are having lots of issues with them at the moment actually getting their completion certificates once the IVA is finished, some people are still waiting 2-3 years after their final payment.

If you put IVA into google you will find lots of reviews on different companies, don't go with anyone who wants an upfront fee.

I am in an IVA myself and the company I am with have been great so far, but would I recommend an IVA to someone else? its difficult to say without knowing the ins and outs as everyone's financial circumstances are different and an IVA is not the correct route for lots of people.

I do wish I had tried the DMP route first as I'm pretty sure I could have settled some of my accounts reading from what others had done, but I'm 2 years in now so need to just knuckle down and carry on.