Best iva company

Noto83

Hello. I am considering entering into an iva.i do not have a massive amount of debt but its playing on my mind and I'm worried about paying it all back at their demands. Would an IVA be my best option? Thank you 

Grumpelstiltskin

Without more details impossible to say BUT before you commit to anything have you contacted one of the debt free charities ?

Edit  Read through this from the Debt Free Wannabee board.

Debt-Free Wannabe Sticky - Provit & Statute Barred Letters, Defaults, Help and Guidance, All Here... — MoneySavingExpert Forum

Browntoa

As above , use one of the debt charities, any company will be taking a % off your repayments as their fee.

Noto83

Grumpelstiltskin said:

Without more details impossible to say BUT before you commit to anything have you contacted one of the debt free charities ?

Edit  Read through this from the Debt Free Wannabee board.

Debt-Free Wannabe Sticky - Provit & Statute Barred Letters, Defaults, Help and Guidance, All Here... — MoneySavingExpert Forum

I have a credit card bill a phone bill a ccj and a couple of catalogues. Should I still discuss with a debt charity? If so what do I look for? Thank you for the advise much appreciated 

Grumpelstiltskin

Yes firstly read the thread and anything else on Debt Free Wannabee.

Secondly remember if you speak to anyone from an IVA company they are just a salesperson not a debt advisor. All they are interested in is their bonus for getting you to sign up whether it is the best way forward for you or them.

sourcrates

Noto83, 

How much debt do you have ?
Are you a homeowner ?

To put into context, IVA`s are really only suitable for homeowners with quite large amounts of debt, as they have an asset to protect, and they cannot go bankrupt, so for them, an IVA is a good choice.

Anyone who is a non homeowner, and less than 30k of debt, there are better options available.

Stepchange (link in my signature) is the place to get advice from, or just ask away on this thread.

MalMonroe

Noto83 said:

Grumpelstiltskin said:

Without more details impossible to say BUT before you commit to anything have you contacted one of the debt free charities ?

Edit  Read through this from the Debt Free Wannabee board.

Debt-Free Wannabe Sticky - Provit & Statute Barred Letters, Defaults, Help and Guidance, All Here... — MoneySavingExpert Forum

I have a credit card bill a phone bill a ccj and a couple of catalogues. Should I still discuss with a debt charity? If so what do I look for? Thank you for the advise much appreciated 

Yes, definitely. Look for a debt help agency that does not charge for advice and help. See links below. 

I used StepChange and they really helped me turn my life around. If you phone one of the free agencies (StepChange being one, then there's National Debtline and also Citizens Advice) they will be able to advise you on every aspect of debt, and give you some idea of how to get rid of it. All you will need before you phone is a Statement of Account (a list of all your incomings and outgoings) so that they can help you to find the best solution for you.

They will not judge you or try to embarrass you in any way. Most of us on this forum have been in financial difficulty at one time or another. Mine followed an acrimonious divorce, becoming a single parent and not being able to manage on a meagre income and hiding my head in the sand. It can happen to anyone. A trained and sensible adviser will be able to talk through all your options and make recommendations and then you can think things over and see what you would like to do - no obligation and no pressure.

It's well worth it. Here are the links -

https://www.stepchange.org/

https://nationaldebtline.org/

https://www.citizensadvice.org.uk/

(I've put StepChange first because they literally saved my life.)  Good luck!  And well done - you've taken that all important first step by posting on here.   

Noto83

sourcrates said:

Noto83, 

How much debt do you have ?
Are you a homeowner ?

To put into context, IVA`s are really only suitable for homeowners with quite large amounts of debt, as they have an asset to protect, and they cannot go bankrupt, so for them, an IVA is a good choice.

Anyone who is a non homeowner, and less than 30k of debt, there are better options available.

Stepchange (link in my signature) is the place to get advice from, or just ask away on this thread.

Hello. I literally have about £3K debt to pay. I am not a homeowner. Im looking into other options than the IVA thanks for the advise I really appreciate it 

Noto83

Hello malmonroe: reading this post has literally brought tears to my eye. Wow. You dont realise that so many people go through so much as you always think you're alone ans been very stupid an embarrassed by it. I thank you for being so open and honest, also for providing some advise to me which I am going to look into today. I thoroughly appreciate your time. Good luck and take care 🙂 @MalMonroe

sourcrates

Noto83

Hello. I literally have about £3K debt to pay. I am not a homeowner. Im looking into other options than the IVA thanks for the advise I really appreciate it 

3k, Three Thousand Pounds, is that correct ?

Seriously, stay away from IVA`s, or any form of insolvency, a 3k debt can be repaid either by better budgeting, or if necessary, a debt management plan.

Your debt is far too small for anything else to be considered.

If you opt for a DMP, then go through one of the debt charities in my signature, you should not pay anyone for a DMP, but there are a lot of shyster sites out there purporting to be charities, when they are not.

Any further advice you need, please feel free to ask on here.

Noto83

sourcrates said:

Noto83

Hello. I literally have about £3K debt to pay. I am not a homeowner. Im looking into other options than the IVA thanks for the advise I really appreciate it 

3k, Three Thousand Pounds, is that correct ?

Seriously, stay away from IVA`s, or any form of insolvency, a 3k debt can be repaid either by better budgeting, or if necessary, a debt management plan.

Your debt is far too small for anything else to be considered.

If you opt for a DMP, then go through one of the debt charities in my signature, you should not pay anyone for a DMP, but there are a lot of shyster sites out there purporting to be charities, when they are not.

Any further advice you need, please feel free to ask on here.

Hello. I cannot thank you enough for the advice, I've gone with DMP. it's the best option I didn't even know about it. After 2 hours on the phone its finally in process,I feel drained I think it's just because I have finally faced my fears after so long. Again I cant thank you enough for the help and advide you've given me. Take care and best wishes 🙂