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Advice?

(28 Posts)
BGreyhound752 Thu 21-Feb-13 15:41:04

I am looking for some advice, I have £30,000 of debt on credit cards and loans which I cannot pay. I own my house with only a small amount of equity. I have approached a debt charity and they say I can pay £340 into an IVA, but I can't afford this!
I work out I can pay at most, about £250 a month. Can anyone recommend any good companies for IVA's?

LIZS Fri 22-Feb-13 15:07:33

Not sure tbh but it seems a little perverse to charge those already in financial difficulty for the privilege of getting out of it. Worth making an informed comparison. Does the £210 include her costs for example or is that on top in which case it could easily become more than £240 likewise the £240? At £210 pcm you'd be paying £12600 over 5 years which is around 40% confused. Creditors presumably would prefer to see some of their money rather than none.

BGreyhound752 Fri 22-Feb-13 15:23:51

To my understanding any fees charged will be deducted from my monthly contirbutions, so there will be no extra monies to be paid on top of this. I suppose anybody proposing an IVA on your behalf is a business and not in the position to offer completely free and proffesional services. As you rightly said creditors will at least be getting something back in a formal debt solution.

keli5325 Mon 25-Feb-13 12:10:59

How did you get on OP? have you made a decison yet? x

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