Recently got a new credit card last month to transfer the balance from another card as the new one is interest free on balance transfers. However i feel the hole im digging is getting bigger and the debt is just getting worse so am considering iva but wonder if i should wait before enquiring due to the recent debt i have aquired? Thankyou
Hi Nicola -- the way I read this is that you were attempting to ease the bad situation by migrating loans to the zero credit card --- however, you have now realised that this is futile and so must seek further help, i.e. an IVA or somesuch.
I imagine, if you are like I was, the more delay will simply increase the debt as you rob Peter to pay Paul. If so, there is little to be gained from delaying sorting matters out.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi I would look at taking some professional advice sooner rather than later. Try www.iva.com for a list of companies and contact 2 if not 3 of these to talk through your options. They will give advice and guidance which will be free of charge at this stage of the process.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I echo lesley and foggy's comments. It will depend on the level of debt and disposable income you have as to whether a IVA is the right approach...use the link provided to gain some independent advice before deciding which route to tie.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
