How do I go about repaying these debts?

[amber]

I have just separated from my husband. We have considerable debts. Obviously I am going to take on my fair share of the debt but as I have not been working and have a young baby, I have no income. How do I go about repaying these debts? we live in rented accomodation so I cannot raise any capital from the sale of our home. Would an IVA be an option? or could you suggest something else?
I look forward to your reponse.

[Adam Davies]

Hi
If you have no income then an IVA would not be suitable.
You should consider bankruptcy as it will give you a fresh start and is not as scary as you think it will be.
Have a look at Skippy13's and Scaredkez's blogs on going through bankruptcy
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[iva experts]

Welcome to the Forum Amber,

Unfortunately as you have no income the options of an IVA or DMP are not viable. I would carefully consider bankruptcy as this would put a difinitive stop to your debt problem.

However you must remember that bankruptcy is more public than an IVA and your details will be placed in the paper. On the other hand your debts would be written off and you would be discharged within 12 months.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[Kes]

Hi Amber, my heart truly goes out to you. Is there no way your family could help with childcare so that you could secure a job and have a fighting chance? I entered into an IVA as a single parent and had to rely on family as I couldnt afford childcare, its a struggle but you can do it with some support. It's time to be honest with your family if you havent been already. I had to confess to my dad and believe me that was scarey but they cant help you if they dont know your needs. I am sure they will support you and be proud that you are taking this step to sorting your debt out. Take care

[MelanieGiles]

If you are living in rented accomodation and have no income, then bankruptcy is probably a better option to give you a completed fresh start clear from the debts.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp