www.iva.co.uk

Hello,

I have apporx £13000 worth of debt across 5 creditors. My finances are a shambles, and I just want to get straight. I have never been very good with managing my money and desparately need help. I'm not currently paying my creditors as I cannot afford it. I have £2500.00 on a bank overdraft, which is made up of charges the the value of £1400.00 which i've been resused back! Approx £6500.00 on HP for a car, although I have not heard from that creditor in 12 months. I have a £900 provident personal loan debt and £1700 on a mobile phone conract. There are a few other bits and pieces, but they are my main debts. I want to turn my life around, and need assistance in getting my finances sorted. I want to make fresh start as i have a baby on the way, and want to do everything in my power to give my child the best start in life, but this will start and end with me....CAN ANYOONE HELP!!!!!

Hi gary

Welcome to the forum

An expert will be along soon so don't worry but it would help them if you could say how much you earn a month and what you pay out a month.

Is your debts joint or yours alone

Also it would be wise to look at another bank account as more likely your bank will close your account if you went into an iva

Hi
If I remember your previous post you main problem is affordability of your car.
You can stop paying the car and hand it back and then come to an arrangement to repay the shortfall,along with your other debts in a debt management plan.Another option is bankruptcy,this will give you a clean slate although you will most probably have to make payments for three years to the OR.
Bankruptcy may well be your best option
Regards

the car has already been sent back, and they have refused to send me a statement for the balamce, just that i owe £6500.00 it was with yes car credit, but ive not heard a thing from them in 2 months? is that normal?

Hi
Yes Car will be in touch,no doubt about it and may well use a third party.
The only way to get this all behind you is to declare bankruptcy.If you read some blogs[Skippy13,Scaredkez,Coco]of forum members that have been through bankruptcy you will see that it's not as bad as it seems.
If you have no assets then it really could be a new start for you.
Regards

i have no assests at all, apart from my laptop which im on now, but that;s it. Can you confirm one thing for me? I live with my partner in private rented accomodation, and i pay 50% of the rent, bill's etc...the car is in her name, would this have any impact on her?

Hi
No impact at all
Regards