debt beyond belief and scared to do anything

maverick1_2

thanks for your advice,got financial advisor coming today to explain ins and outs of i.v.a.scared stiff as to how hard up we will be for five years,is it true that remaining debts will be wiped clear after five years?i /we will have roughly 110,000 of debt all told in loans credit cards ,overdrafts etc. how much should i be expecting to pay in set up costs ,and how much will my monthly payments be? if this option is unaffordable and unmanageable i dont know what i am going to do.

Karmacat

Hi maverick1
you sound like you're panicking, so take a few calming breaths. The reality is that most of the questions in your post this morning are unanswerable, if you don't give people on here something to work with. People asked you to set out an soa, its referred to quite a few times up above, post 5 on this thread even has a link to how to do it. Until then, we're just whistling in the wind, really sorry, and any feedback you get is not specific to you, and might even do more harm than good.

quantumleap

Karmacat wrote: »

Hi maverick1
you sound like you're panicking, so take a few calming breaths. The reality is that most of the questions in your post this morning are unanswerable, if you don't give people on here something to work with. People asked you to set out an soa, its referred to quite a few times up above, post 5 on this thread even has a link to how to do it. Until then, we're just whistling in the wind, really sorry, and any feedback you get is not specific to you, and might even do more harm than good.

I agree with this Maverick. Don't panic, take a couple of days to take on board the advice you've been given here, digest it and make a plan. In order for us to help and advise you really need to post some form of statement of affairs so that we can see the income and outgoings and then help you.

If you panic and go with the first person/company who tells you they'll help then you could end up with a lot more problems. If you want to discuss IVA's or whatever, do it with CCCS, Payplan or National Debtline. These are the people who can help and will do it with your best interests in mind.

Financial advisors, people for the IVA company want to make money, they need to make money and they'll have no qualms about making it from you. The agencies listed above don't.

sewbocushions

sewbocushions wrote: »

hi, I'm new to the forum. We contacted the CCCS last August as our spending/survival was spiralling out of control. It's so hard and so demoralising though, having to survive on hardly anything a week and not being able to buy your kids any treats, or even basic stuff. What I want to ask is - will some of the credit card companies just wipe off our debts do you think? And if that were to happen, would the CCCS tell us, or just let us continue paying our pitance forever? It feels as though we're going to be stuck in this situation forever and it's so depressing and yes, I know it's our own faults, but we weren't buying luxuries on our cards, just essentials.
Sorry, don't mean to whine!
Best wishes and thanks to everyone for such great advice,
Bo x:o

Hi, I was just wondering if anyone could help me with this? We owe £70-80,000 and are paying just £105 per month so it seems as if it's never going to be paid off! Bo

James&Shell

Just wanted to say good luck and i hope it all goes well for you.

consultant31

sewbocushions wrote: »

Hi, I was just wondering if anyone could help me with this? We owe £70-80,000 and are paying just £105 per month so it seems as if it's never going to be paid off! Bo

If you start a new thread with your question you will get more replies

sewbocushions

oh, i wondered why everyone was ignoring me! sorry, i'm new to this and not sure how it works! thanks!!