debt problems

[brass neck]

Got myself in a big financial hole. My debt is spiraling out of control, I'm struggling to make ends meet and um thinking about a iva. Does anyone have any experience or advice on the best way to go with it. Who not to use, what to do generally. I'm at the end of my teather really......sure I'm not the only one!

 

[Hamann Pineapple]

<a class="postlink" href="http://www.stepchange.org/" onclick="window.open(this.href);return false;">http://www.stepchange.org/</a>

Used to be CCCS. Free service

 

[tago_mago]

They are the best. But if you have debt even if only costs starting to get out of hand, do get the advice or go to someone like Payplan. As long as you can make and hold to an arrangement they can limit interest etc.

And don't go to the sort of sharks that charge upfront fees etc.

 

[sergiokun]

Got myself in a big financial hole. My debt is spiraling out of control, I'm struggling to make ends meet and um thinking about a iva. Does anyone have any experience or advice on the best way to go with it. Who not to use, what to do generally. I'm at the end of my teather really......sure I'm not the only one!

I work for a debt management company mate, you will need over 15k of debt to do IVA.. CCCS is a free service but they work on behalf of your creditors and do not do IVAs… They just do debt management and don’t charge a monthly fee because the creditors pay them.. Stay away from Freshstart and Valour, both stockport based companys mate and i have worked for them before.. cowboys

 

[Anonymous]

Got myself in a big financial hole. My debt is spiraling out of control, I'm struggling to make ends meet and um thinking about a iva. Does anyone have any experience or advice on the best way to go with it. Who not to use, what to do generally. I'm at the end of my teather really......sure I'm not the only one!

You certainly aren't the only one mate .....

i too was in the same position back in the eighties , when i lived in Whitefield , and had to turn to an money/debt advisory agency in Prestwich to help me out of it ..... they negotiated with all my creditors , sorted out a workable debt management plan for me , and in the end i worked my way out of it ..... it was very worrying though , and it was hard to sleep nights.

You have to start living within your means (if you aren't already!) .... maybe downgrade the car , or even house , if you own one ...... i sold my house , which was worth around £300,000 at the time , and moved to one costing substantially less , where i am just as happy , if not more so !

It's an awful situation to find yourself in , but try not to let it destroy you , there's always a 'positive' way out .....

if i were you , in your first instance , i'd seek IMMEDIATE ADVICE FROM YOUR LOCAL CITIZENS ADVICE BUREAU .... they will advise you on your best options , and what to do next/where to go.

 

[lafitz2008]

Got myself in a big financial hole. My debt is spiraling out of control, I'm struggling to make ends meet and um thinking about a iva. Does anyone have any experience or advice on the best way to go with it. Who not to use, what to do generally. I'm at the end of my teather really......sure I'm not the only one!

I work for a debt management company mate, you will need over 15k of debt to do IVA.. CCCS is a free service but they work on behalf of your creditors and do not do IVAs… They just do debt management and don’t charge a monthly fee because the creditors pay them.. Stay away from Freshstart and Valour, both stockport based companys mate and i have worked for them before.. cowboys

Yeah they do debt relief orders now I think that aren't a million miles away from an IVA

 

[sergiokun]

Got myself in a big financial hole. My debt is spiraling out of control, I'm struggling to make ends meet and um thinking about a iva. Does anyone have any experience or advice on the best way to go with it. Who not to use, what to do generally. I'm at the end of my teather really......sure I'm not the only one!

I work for a debt management company mate, you will need over 15k of debt to do IVA.. CCCS is a free service but they work on behalf of your creditors and do not do IVAs… They just do debt management and don’t charge a monthly fee because the creditors pay them.. Stay away from Freshstart and Valour, both stockport based companys mate and i have worked for them before.. cowboys

Yeah they do debt relief orders now I think that aren't a million miles away from an IVA

A debt relief order is for someone on benefits or with a really low income, it must be UNDER 15k to qualify for a DRO… It costs £95 pound and citizens advice are the best people to help, You are probably best getting an IVA sorted or going bankrupt.. an IVa is wear you pay around £150 a month for 60 months and then your debt free

 

[nw42]

I also work in the industry, there's plenty of free advice available and you would be well advised to speak to at least 3 organisations before making any decisions, I mean you wouldn't buy the first car you saw on a forecourt would you, you'd shop around and deal with the one you felt most comfortable with.

Few replies on this thread already that are a bit wide of the mark,

CCCS do offer free advice but if you find that an IVA is the best options then the costs with CCCS will be exactly the same as anywhere else, ditto for Payplan. The costs in an IVA are dictated by the creditors.

CAB, will go through things with you but if an IVA is your preferred solution they will just refer you elsewhere (I get referrals from CAB all the time)

Debt level, you don't need to have £15,000 of unsecured debt to be considered for an IVA, anything over £10,000 can be considered, it all depends on your circumstances.

Debt management is an informal arrangement, nobody can guarantee to stop interest, it really is up to the creditors. An IVA is a formal arrangement, like bankruptcy. If your debts are less than £15,000 and you have no assets (property) then you may be able to to apply for a Debt Relief Order, again it depends on your circs.

tago_mago is correct, if an IVA turns out to be the best solution for you then don't consider going with anyone who asks for upfront fees, it's dead money.<br /><br />-- Fri Dec 07, 2012 11:08 am --<br /><br />

I work for a debt management company mate, you will need over 15k of debt to do IVA.. CCCS is a free service but they work on behalf of your creditors and do not do IVAs… They just do debt management and don’t charge a monthly fee because the creditors pay them.. Stay away from Freshstart and Valour, both stockport based companys mate and i have worked for them before.. cowboys

Yeah they do debt relief orders now I think that aren't a million miles away from an IVA

A debt relief order is for someone on benefits or with a really low income, it must be UNDER 15k to qualify for a DRO… It costs £95 pound and citizens advice are the best people to help, You are probably best getting an IVA sorted or going bankrupt.. an IVa is wear you pay around £150 a month for 60 months and then your debt free

With respect mate, how can you tell him that when you don't know how much he owes, how much he earns, whether he owns his own house etc etc

 

[lafitz2008]

I work for a debt management company mate, you will need over 15k of debt to do IVA.. CCCS is a free service but they work on behalf of your creditors and do not do IVAs… They just do debt management and don’t charge a monthly fee because the creditors pay them.. Stay away from Freshstart and Valour, both stockport based companys mate and i have worked for them before.. cowboys

Yeah they do debt relief orders now I think that aren't a million miles away from an IVA

A debt relief order is for someone on benefits or with a really low income, it must be UNDER 15k to qualify for a DRO… It costs £95 pound and citizens advice are the best people to help, You are probably best getting an IVA sorted or going bankrupt.. an IVa is wear you pay around £150 a month for 60 months and then your debt free

Not necessarily on benefiits or a really small income.
When first split from the Mrs few years ago I was eligible for one,at the time my basic was 24K,you do have to have a very small amount disposable though and meet a few other criteria.
Ended up going down a different route in the end after I got a lump sum together but it was an option.

 

[shadygiz]

http://www.stepchange.org/

Used to be CCCS. Free service

this....top people but it does take a while to get a call back interview