I am 16k in debt on loans and cc's. I have crippled myself to keep my payments up so far but its now catching up with me. I do have a small amount of disposable income left after pay day but this goes on maintaining vehicle for work, birthdays etc. I do not have money to socialise or even cut my hair. I keep being told to get an IVA but they require me to pay more money out that I am already. I have now been told I may not be able to go bankrupt as I have money left every month and have not missed payments. The Debt people just keep saying.. prioritise!!! well I am. I am paying the minimum I can on everything!! Please help.
unfortuantly 16K is in that range of just above the threshold for debt relief order (worth reading about though)
but the 16K is enough that it is out of reach and means that you live and work only to pay debts.
yes you could qualify for Bankruptcy, all you are doing is paying the interest each month so not actually attacking the debt.
can i suggest you try and contact payplan (they are sponsored by Halifax group) I would also contact paul at reviva (expert to the left)and see if the reviva Plan would be appropriate in your circumstances both may prevent you from having to declare bankrupt
I am 16k in debt on loans and cc's.
Posted - 14 July 2010 : 15:10:38
