Your views and questions.

Moderators: TalbotWoods, JaneClack

By Jnunking
#472094 Hi,

I am 31 years old, I have recently lost my job and owe about £3000, 1 credit card, 1 payday loan which I pay back £10 per month, and 1 council tax bill unpaid.

I was thinking would it be best to go into an IVA? or what would be the best solution?
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By JaneClack
#472097 This sounds a very small amount to look at by doing an IVA - there is income to be taken into account as well.

If there is no real chance of the income increasing in the next year there could be other options to look at including a Debt Relief Order if your debts are under £15,000, you do not own a property and if you have a car it being worth no more than £1,000. Your disposable income would need to be less than £50.

I would strongly suggest you contact one of the providers mentioned in the red under my signature as all of them would be able to give you clear, free advice on the best options appropriate for your individual circumstances after going through a more detailed examination of your finances.