Feeling like there is no way out

Sahx77

Hi - I've been on the phone earlier today to a company to discuss an IVA. My debit total is around £4000, I'm really confused as to wether l should go ahead with the IVA or contact my creditors and work out a plan with them.
l'm a working single parent who just wants to get rid of the debuts that I have occurred.

Westminster

Contact one of the free debt charities such as StepChange where you can trust that their advice is not only free - but because it is free it is also impartial so can be trusted to suit you & your situation rather than the option that makes your advice company the most profit.

tealady

Hi
If it is a company that you have to pay then ditch them.
Have a look at the sticky at the top for information on organizations that give FREE advice.
Or post you SOA if you want so peeps can give advice on here.

fatbelly

Sahx77 wrote: »

Hi - I've been on the phone earlier today to a company to discuss an IVA. My debit total is around £4000, I'm really confused as to wether l should go ahead with the IVA or contact my creditors and work out a plan with them.
l'm a working single parent who just wants to get rid of the debuts that I have occurred.

For £4000?

Post a statement of affairs on this board (link is to a calculator) and you'll get much better advice than whoever it is you have been talking to.

System

My debt is more than that , post your SOA on here and wait for all the tips and help you to pay it off in your own way .
No cause is a lost cause on here.

sourcrates

Sahx77 wrote: »

Hi - I've been on the phone earlier today to a company to discuss an IVA. My debit total is around £4000, I'm really confused as to wether l should go ahead with the IVA or contact my creditors and work out a plan with them.
l'm a working single parent who just wants to get rid of the debuts that I have occurred.

Hi,

Whilst i appreciate that your debt is crippling you, in the grand scheme of things £4000 is nothing, and certainly too little to be taking out an IVA for.

There are other solutions such as debt management or even a debt relief order that will work better for you.

IVA`s are usually for people who owe a lot of money (Thirty/forty thousand upwards) although there is no minimum level of debt, and have an asset to protect such as a house, and where Bankruptcy would not be suitable.

Do not sign anything with these people, IVA `s are mis-sold to people all the time, as the provider can make a lot of money from the fee`s, and they really are not appropriate for everyone.

Do as advised above in other posts.