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Credit Cards - IVA advice
Redbecca83
Posts: 2 Newbie
in Credit cards
Hi everyone,
I'm hoping someone may be able to shed a bit of light on IVA's for me. Il try to keep it brief...
A few years back I had a couple of credit cards (between the two, the balances amount to about 8k). I then switched careers and my income was lower than it previously had been so no surprises - I couldn't keep up the re-payments which hadn't previously been an issue. Both credit cards are with reputable high street lenders/banks.
A couple of months back I spoke to StepChange who went through the initial stages of an IVA with me but it hasn't been sealed as yet. They propose I only pay £3 a month to each lender (which seems very low and I'm capable of paying more.)
Has anyone had any experience of contacting their lenders independently to strike up an agreement and thus bypassing a formal IVA? I would be grateful to hear if anyone has and/or if this is even possible.
I have trailed the internet for advice but i find the information confusing and quite frankly a bit scary! I have no other debts, a full time job and a good salary - well its an NHS salary so don't get too excited! ;-)
Any help would be greatly appreciated as i don't know what to do for the best!
I'm hoping someone may be able to shed a bit of light on IVA's for me. Il try to keep it brief...
A few years back I had a couple of credit cards (between the two, the balances amount to about 8k). I then switched careers and my income was lower than it previously had been so no surprises - I couldn't keep up the re-payments which hadn't previously been an issue. Both credit cards are with reputable high street lenders/banks.
A couple of months back I spoke to StepChange who went through the initial stages of an IVA with me but it hasn't been sealed as yet. They propose I only pay £3 a month to each lender (which seems very low and I'm capable of paying more.)
Has anyone had any experience of contacting their lenders independently to strike up an agreement and thus bypassing a formal IVA? I would be grateful to hear if anyone has and/or if this is even possible.
I have trailed the internet for advice but i find the information confusing and quite frankly a bit scary! I have no other debts, a full time job and a good salary - well its an NHS salary so don't get too excited! ;-)
Any help would be greatly appreciated as i don't know what to do for the best!
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