I am in debt.

[diP]

I am in debt. The amount of my debt maybe arroun £70.000,00 obviouslly including all interests in all accounts includin loans and credit cards. I had a job that allowed me to get this line of credit but now i have a different job where wages do not cover even 30% of my monthly outcome to pay my debts.
Which are my solutions? I am in a full time job but very poorly paid.
Please do let me know.
Thank you

[Skippy]

Hi diP and welcome to the forum. So that one of the experts can advise you, please can you post a list of your income and expenditure, not including your unsecured debts. Be realistic with your budget (but obviously not extravagent!) as if you are eligible for an IVA 5 years is a long time!

Also, please can you post a list of your creditors, as this may influence the advice you are given, as some creditors require a higher return than others.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[MelanieGiles]

Hi dip

Skippy is correct. We will need to know what money you have available to repay your creditors (if any) at the end of each month. This is known as "disposable income" and is calculated by taking your total income and deducting all reasonable household and personal expenditure.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk