Can anyone help...

leelee

Hi, I hope someone can help I have a problem......

My Husband is one of a long line of self employeed people who has recently had to pack up and go back into employment, however this has left us with alot of debt both business and personal.

If my husband and I were to go for an IVA does anyone know how it would effect my career as a AAT member, who hopes to go on to better things with my qualifications at some point in the future.

We are both fed up of the situation but I have worked so hard to get were I am, and am afraid it will be frowned upon if we choose this path.

Any suggestions would be appreciated right now.

Many thanks in advance.

farmergiles

leelee wrote: »

Hi, I hope someone can help I have a problem......

My Husband is one of a long line of self employeed people who has recently had to pack up and go back into employment, however this has left us with alot of debt both business and personal.

If my husband and I were to go for an IVA does anyone know how it would effect my career as a AAT member, who hopes to go on to better things with my qualifications at some point in the future.

We are both fed up of the situation but I have worked so hard to get were I am, and am afraid it will be frowned upon if we choose this path.

Any suggestions would be appreciated right now.

Many thanks in advance.

I believe the AAT judges each case on its merits. You would be well advised to speak direct to them.
A word of warning. If you are looking at an IVA be very careful who you use. You can end up paying a lot of charges, sometimes up to 50% of your monthly payments. Also remember that most IVA agreements are arranged through the courts and that if you miss a payment, you can be made bankrupt.
Before going down that route speak to the Citizens advice bureau.
Also consider making your own agreements with your creditors. Quite often creditors are ameanable to offers of payment(unless it's Barclaycard).
You will have to do an income and expenditure form for them but that should ensure that you can meet the payments.

Good luck
Kind regards
Peter

Cullen

That is a very good question in this current economic climate.

I am sorry you and your husband are going through tough times. I suggest you contact the AAT who I am sure will be able to offer advice.

I understand that there is some debt counselling bureau who may be able to offer advice regarding the implications of an IVA. Try Martin Lewis' website as he probably has links on there which could give advice too, or at least inform you. You could also try the CAB?

Good luck.

Diannew

I agree with both FG and Cullen, think carefully and get good advice from the CAB before you take the action.....take care and remember there is nothing that can not be sorted out....you are not the only ones that will be having to make these decisions in the curent climate, but you will be ok.

Regards

Dianne

CLAREH

Sorry to hear about your troubles.

Just be aware that if you went for an IVA, it would affect your credit rating and you could have trouble if you went for any credit in the future including if you wanted to apply for a mortgage.

In agreement with everyone else, best thing to do would be to go to see Citizen's Advice for free, impartial advice. These companies who advertise on the TV how they can rid you of debt in a short matter of time don't do it for nothing.

Good luck and I hope it all works out for you.

Monsoon

Sorry to hear of the situation.

Something that hasn't been mentioned is the consumer credit counselling service who I'm told are very good.
http://www.cccs.co.uk/

Either way, get some advice before you actually do anything.

Someone like PayPlan don't charge you anything to set up a scheme, which may or may not be an official IVA, so this might be another option.

good luck.

Aaron C Rescue

leelee

sorry to hear about your situation, as someone involved in Credit Control/Debt Recovery for a local authority, take the advice further up the thread, have a look at this link , and above all remember what your priority debts are.