Advice required.

helkingst

Hi all,
I recently (jan) entered into an IVA and have problems in making the payments that they requested which i thought were very steep at the time. If this fails (which is a strong possibility) what are my options as to making arangements with my creditors. I was very worried about going with a debt management company but because i wanted everything in one place so to speak i thought it was my only option. I owe about £85,000-£90,000, (that was very hard to put down) I am open to any suggestions and help. I have to go to work now but will look at your replies tonight when i come home at about midnight and will post a SOA tomorrow. Many thanks.

Snaggles

Hiya, I don't know a lot about IVAs, sorry, but have you spoken to the CCCS, Payplan or the citizens advice bureau? They would be able to look at your circumstances and tell you what your options are.

Hopefully someone else on here will know a bit more about it. Good luck and well done for admitting how much you owe, it must have been hard to do.

chloebelle

recommend citizens advice because they are not trying to sell anything, they just give the best advice to suit you.

Sorry I couldn't be more helpful but definately give them a try

RAS

Hi

Please contact one of the debt charities listed here

http://www.moneysavingexpert.com/loans/debt-help-plan#help

urgently.

And whilst you wait for responses, you need to ring the people who have organised your IVA and ask how much has been paid out to your creditors and how much has gone in fees?

You do need to provide a lot more information on your situation - income, expenditure, apital availble before we can help you, and this will be needed by the Debt charity as well.

Snaggles

chloebelle wrote: »

recommend citizens advice because they are not trying to sell anything, they just give the best advice to suit you.

Same with CCCS and Payplan - stay clear of the ones that advertise on TV though, most of them seem pretty horrendous.

james32_uk

If you fail an IVA then your creditors can make you bankrupt. Depending who you entered the IVA with you could end up owing them lots of money too. I believe it's possible to go from an IVA to a DMP but you need to get info from CCCS or Payplan. Give them a ring.