never seems to be any light at the end ofthetunnel

[n.g]

i have been reading your comments to other people in my sittuation and i find them quite inspirational.

my wife and i are struggling day to day to make ends meet. we have used a financial advisor for several years but the more he helps! the worse off we seem to be.
we have a debt of approx 65000 and are considering an IVA.
My wife suffers from depression and our finances constantly have her in tears.it is so depressing that on every pay day approx 95% of my wage goes straight on debt payment.

if we were to take out an IVA what kind of monthly re payment would we be looking at on a debt of 65000.

there never seems to be any light at the end of the tunnel!

[scaredkez]

hi n.g welcome to the forum , i know where you are coming from, we used financial advisors all the time and their costs were enormous, however, what you need to do is work out what your disposable income is at the end of every month without paying your unsecured debts, then the technical experts on here will be able to guide/ assist into whether or not an iva is feasible, all of us here have been in the same boat as you are now ,and we all understand what you are going through, we are here for support as well as technical advice and can share our experiences with you.
good luck
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[MelanieGiles]

A minimum of £400 per month - and more if your disposable income would indicate a higher figure. If you owe HSBC or Northern Rock, these creditors have a higher minimum criteria and therefore more money would possibly have to be raised.

Your current situation is simply not fair on you or your wife, and Is uggest that you arrange to speak with an insolvency practitioner as soon as possible - my motto is that a problem shared is a problem solved!

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

[ivoriva]

Do as Melanie says, seek urgent advice of a Insolvency Practitioner. You've made the first step by recognising your problem, so get on the phone to a professional and take the next step forward. It will give you a lot of hope and by the sounds of it you are in a good situation to propose an IVA.