Any advice welcome! IVA issues

Nicola182

Hi guys

I posted this over on the DFW forum, and I've been pointed in this direction in the hope that someone can advise me on my options!!

http://forums.moneysavingexpert.com/showthread.html?t=894587

If you could take the time to read and respond, I would be really grateful

Thanks
Nikki

betterlatethannever

Hi Nicola and welcome:j

The first thing you 'must' do is get some advice

Professional, free and impartial advice on debt problems can be obtained from several charitable organisations. They never make a penny from the advice they give, which means it will be given with only your best interests at heart.
You can contact:
Your local CAB Office and ask to speak to a 'money advisor'.
The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111
National Debtline - Tel: 0808 808 4000

or visit
http://www.cccs.co.uk/
http://www.nationaldebtline.co.uk/
http://www.citizensadvice.org.uk/index.htm

Please contact one of the above and speak to someone about your problems.
They'll be able to help you more as they'll be able to ask your incomings/outgoings and about any assets that you may have.

If you/they decide that going BR is your best option then pop back here for more advice, support and help than you could ever wish for:D

Good luck...and make that call.

philnicandamy

Have a read here..might answer a few questions

http://www.moneysavingexpert.com/loans/pdf-iva-guide.pdf

10past6

Hi guys

I just want to clarify on behalf of the OP, she ALREADY HAS an IVA, but may well have been miss sold it.

What are her options now, if any?

Waspeze

Hi Nicola, i replied a bit in your other thread but just to say .. have you taken advice from CCCS, CAB or National Debtline? (the free debt charities)

It does appear that you were mis sold an IVA but it would be good to get advice from one of these places.

Unfortunately some of the IVA companies only have their best interests at heart and will recommend an IVA even when they are not suitable as it makes them a lot of money (they may say they are free but believe me they take a hefty cut of your monthly payments!)

If you speak to the CCCS they might be able to advise you better... it may be that they say it's fine either way they will be able to help regardless

Nicola182

I haven't spoken to CCCS / CAB etc, I thought that as I was in an IVA already, there wouldn't be much point! I was aware of the charges that the IVA company made, and the profits that they'd be making from me, but this was my easiest option at the time.

If only I'd waited a few more months - I'm sure now I'd be in a better position to deal with these debts myself. Ah well - live and learn!!!

I'll give the above peeps a call - it can't hurt!

Waspeze

Let us know how you get on!

One thing to bear in mind .. if they suggest bankruptcy, it can be a bit daunting hearing that B word :eek: but you already are "classified" insolvent by entering into an IVA!

Edit: as shown on this link! http://forums.moneysavingexpert.com/showthread.html?t=894017

dodecanese

Hi Nicola

Please call one of the debt charities- they will give you free, impartial advice- more importantly they will cut through all the c**p- if your IVA sounds rubbish they will tell you.
IVAs are a money maker for some dodgy companies- but I would get advice from National Debtline/CAB/CCCS- they will give you good advice and help you- these organisations will help you for free, and do not make money out of "selling" certain options to you.

One thing I have learned in the whole debt/bankruptcy thing Im going through is just how many sharks there are out there keen to "help" me. Ring one of the afore mentioned organisations- they will tell you your best options. If it happens to be bankruptcy- at least you know where you stand.