IVA Application

SXXRS Forumite Posts: 5
First Post
Please bear with me, this is my first post. 

I currently owe just over £24,000 in debt. I am paying these on time every month for the last 2 years', however more recently it's becoming overwhelming as I am paying out £1100 a month of my monthly earnings with no leeway to do much more after that including savings. 
I've spoken to debt advisors and they've told me an IVA would be my best route bringing down the costs to just £150 a month, saving me just over 900 pound per month. I would be so much more happier with this! 
I have tried alternate routes: a second job, selling personal things, contacting the companies to reduce interest and explain my circumstances but little luck in anything. 
I am seriously deprived with sleep and it is now affecting my mental health. I'm hardly eating, sleeping 2 hours most per night, strain on my relationship.
I feel this is my only option, as I've been told by 3 other debt advisors and my bank advisor. 

I am currently 22 years old with hopes of being debt free before I'm 30, and the IVA will be the only option I have to achieve this. 


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