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| The independent answer to your debt problems | login join |
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noonoo
| 24-05-2007 03:48 PM |
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Joined: 24 May 2007 Posts: 2 | I have just left uni with a rake of debt. £25k, nothing to show for it except the memories or not, in some cases. I don't want to be saddled with this debt and quite fancy on of those IVA thingies. Where do I sign up? |
| DW George | 24-05-2007 05:24 PM |
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Joined: 01 May 2007 Posts: 174 My Profile | Steady noo noo An IVA is something which shouldn't be considered likely. The consequence of an IVA for future jobs can be far reaching. Some professional organisations have restrictions on who can become a member. How much of your debt is taken up with a student loan? A student loan cannot be included in an IVA. G |
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noonoo
| 24-05-2007 11:30 PM |
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Joined: 24 May 2007 Posts: 2 | G man I've got £12k of a student loan the rest is credit cards . How can I get rid of it. Write off 90% of it is what I want. Who does it? Noo man |
| James H | 27-05-2007 03:28 PM |
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Joined: 27 May 2007 Posts: 32 My Profile | Noo Man You are not a disappointment. As an educated individual you cannot be blamed for having debt, we all seem to have debt these days, but you should study your situation in more detail. Is your current wage packet recognised as too low to repay your student loan at the moment.....ask the student loans organisation as there are lower limits set where repayments can be deferred. As for your other debts.......There are a number of simple things that you should examine. Do you have any disposable income? Can your lifestyle be restructured to increase this disposable income figure? Would a debt management plan work for you? You mention an IVA, I suggest this as a last resort. You also ask about clearing 90% of your debt. An IVA typically clears up to 75% of debt. In Scotland they have a Trust Deed which can clear up to 90% of unsecured debt. Do you live in Scotland? More detail required for more advice to be given FREE OF CHARGE. |
| mallorca | 28-05-2007 02:34 PM |
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Joined: 28 May 2007 Posts: 17 My Profile | noonoo- Go for the IVa i guess you ar eyoung 21/22 by the time you earn good money and you want to buy a house the IVA will have cleared. Hope you had a good time with the money. |
