New to the IVA proposal - very scared.

[Weeksey1]

My wife and I have amassed £105,000.00 in Credit Card Debts.
We tried with Clearstart to get an IVA done, but they said we
didn't have enough clear funds to meet the requirement.
So we tried another company, they wanted £545.00 up front as the first payment which made me very suspicious (poor spelling, sorry).
All we want to do is sit down with someone and got through in detail what we need to do in order to get our life back on track and debt free. Sleepless nights are now the norm, with 7 CCJ's to try and keep up with, I am becoming a regular at Staines CC and now know
the doorman by his first name. Please, someone help us.
Jonathan Weeks

[hara]

I am sorry to hear that.

I think you may have t give more details,Income and expenditure.

Loan details.You can not include secured debts.

Why di you eave until te accumilation of 7 ccjs?

You need to have at least 200 pounds of disposal income for iva to be propsed and creditors would be looking for a minimuum of 25 p in the pound.

I would not pay any one any upfront fee.

hara

[hr1350]

Hi
Welcome to the forum, this place has been a god send for me. I went with Clear start and the IVA was approved Tuesday, however call a few more companies to get a 2nd or 3rd opinion. If you post more details about your debt I am sure one the experts will be along to provide some answers for you.
You will find support and expert knowledge on here I know I did.
Ian

In over my head looking for somewhere to turn

[MelanieGiles]

Hi Jonathan and welcome to the forum

The starting point is really working out your disposable income - I have a form on my website which you may find helfpul, and then determining how much you could afford to continue to pay your creditors on an ongoing basis. If you could post this information, we can assist you further. If you can afford £545 per month, and were just suspicous about paying it to someone you had never met, then an IVA appears to be viable, but you need more detailed advice on this from an insolvency practitioner.

Is an IVA the only option you have considered, or have you also thought about bankruptcy proceedings as well. This may be a better option for you, if you have no assets. I would not recommend a Debt Mangement Programme given the high level of your debts.

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