keep hearing all the adverts on TV and radio

[philip.c]

hello , I am in financial trouble and have been thinking about this for a while. I keep hearing all the adverts on TV and radio but I do not know who to contact as there seems to be so many .I came across this fourum yesterday and have found it quite helpfull but I am still unsure of the next step

[aguise]

Hi Philip
I know what you mean about all the advertising it has become very prominent. A good place to start may be by talking to a few of the companies mentioned on this site. Avoid upfront payments unless they confirm you would get them basck and talk to a few companys to get varied opinions.
If you dont mind post more of your debt, if your house is owned, is there equity in it, who your creditors are, and income and living costs before paying debts, then everyone can advise an iva is not always the best solution there are other options.

Hope this helps a bit

Ang

[MelanieGiles]

Hi Philip and welcome to the forum

Why not give us a brief outline of your financial position, so that you can benefit from lots of advice on line from various experts.

Please post the details of your creditors, your disposable income (ie the amount you feel that you could afford to pay to creditors, and whether you own a property. If you do, then please let us know the amount of any equity.

The forum is available 24/7 and there is always someone around to help.

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

[philip.c]

to be honest I didnt think this would be put on the forum amd im not sure im ready to share my woes to the world just yet , but sitting down & working out what you really owe is even more scary than get the repayments you are trying to keep up with .I am in a real mess and altough im starting to sink I am just doing my upmost to stay afloat .
so here goes !
£15000 over 5 CC
£15000 a loan (£403.00 per month )
£ 2500 Argos/Commet card .
I have a full time job that is not the best paid , altogh i have been told again if I am off ill again I am out the door.I get 1025.00 per month
I owe
£450 Rent
£875.00 in an overdraft to the bank
BT £11.00
Sky £42.00
Mobile £78.00 ( Half is my partners )
Car ins £35.00
Council Tax £75.00 ( I am behind with this )
Gas & Elec £60.00
Car £196.34
My partner gives me £200 per month and also pays for the TV licence.

hope this helps

[ray_a]

Hi Philip

Hope you find this site helpful.

From a personal experience and from what you say, I am concerned that your job is not settled as it should be. One thing to consider is how long have you worked there and has your employer gone through all the legal steps about dismissing you. There are laews to protect your employment. If your employment does go wrong will you be able to find a job with similar or better income?

I think that will help you assess the best alternative to start sorting your financial affairs out.

Please comre back as we are all here to help.

Good Luck

Regards

Ray

[MelanieGiles]

Hi Philip

You have made the first step! Reviewing your finances and recognising there is a problem is always painful, but once done at least you can look forward.

It is difficult to assess whether you have any disposable income left to offer to creditors, so you should really put together a detailed income and expenditure account to ensure that firstly you are able to cover your general household and living expenses, and secondly whether there is anything left to offer to your creditors.

If you do have disposable income, you could either propose an IVA to your creditors, or a Debt Mangement Programme depending upon your circumstances. Alternatively, if there is no disposable income, then bankruptcy may be a better option.

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

[MelanieGiles]

Hi Philip

You have made the first step! Reviewing your finances and recognising there is a problem is always painful, but once done at least you can look forward.

It is difficult to assess whether you have any disposable income left to offer to creditors, so you should really put together a detailed income and expenditure account to ensure that firstly you are able to cover your general household and living expenses, and secondly whether there is anything left to offer to your creditors.

If you do have disposable income, you could either propose an IVA to your creditors, or a Debt Mangement Programme depending upon your circumstances. Alternatively, if there is no disposable income, then bankruptcy may be a better option.

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

[philip.c]

I have been employed here since Nov 05 , I am settled here and everyone is great but it seems it is just down to procedure regaruding work , the thing is i seem to be going round in circles , to put a finer point on it I have been off ill four times in ane 12 month period , the last two occasions it has happend is in December,I was off with Flu ( unpaid ) for 3 days ,because of this I was given a written warningfor being off 4 times within 12 months , the warning would last for 9 months . I came into work last monday Ill and lasted till 1 pm and went home and I also felt lousy on Tuesday so I stayed in bed and booked am appointment to see the doctor who gave me antibiotics and returned to work on the Wednesday . I was then issued yesterday with a final written warning .So if I am off ill in the next 12 months they can dismiss me . they said there was no doubt I was ill but it is just procedure , I can appeal but I feel this wouldnt be a worth while process .As I am one of lifes worriers I tend to let things get to me and I bottle things up . I have other worries also, i'm going through a divorce & my mother is ill and is due soon to have an opp shortly , so as you can see my life is a bit of a mess and it is quite easy for me to get a little stressed

[philip.c]

Hi Melanie thats just it im not sure what to do , I have been living off Credit cards and trying to find extra work here and there but this has deemed to not be cost effective and work have also told me to pack it in as it could be deemed to be affected my health and my timekeeping .

[Adrian Ratcliffe]

Hi Philip,
I have an excel spreadsheet for working out income and expend, can email it to you and it is pretty easy to use and does all the calculations automatically for you.
You have car finance if you have paid more than 50% you can hand the car back.
The loans you say you have did you take any insurance out with the loans?
Regards
Adrian

[ray_a]

Hi Philip

It sounds like your employer is adopting a very aggressive line with you and I would most probably not want to work for them given your current difficulties. Not sure how an industrial tribunal would look at them for adopting their stance given that you had flu! What do they want you in work bringing all your colleagues down with flu or staying away and making a good recovery!

From what you have said it does look like you do need to stabalise your whole life.

I do suggest looking at your income and expenses and seeing what you have to spare in order to make a proposal to your creditors.

Personally, I am not sure an IVA at this stage is preferable because of the fees associated with it and the uncertainty faced with it. Perhaps a debt management scheme might be preferable and if you struggle with the repayments and your other aspects in your life settle down then you could consider an IVA.

Sorry life is tough as my picture shows it never rains but just pours!

Good Luck

Ray

[philip.c]

Thanks Adrian , if you could send me that it would be very good as for my car i have only had it less than a year .how do will you get my E-mail address , do I have to post it on the forum ?


message from admin..
please don't ever post an email address on the forum...we regret that we had to disable the email facility because of spam, please send a message via the questions facility requesting that it is forwarded to Adrian[:)]

[philip.c]

Thanks Ray , I now even feel more unsure than I did last week . I really dont know what way to turn , im so confused .

[Adrian Ratcliffe]

Hi Philip,
My mobile 07812056086 I will post a burned cd to you.

Regards
Adrian