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Credit Card Debt: living on credit Credit Card IVA 

When Living On Credit Turned Into A Nightmare

I have to admit I have always liked the finer things in life but in my defence I also knew the importance of working hard and not living on credit. While I can’t admit to being the best saver in my family or even circle of friends I have always made sure to not  to live on credit but some how that changed. I’m not sure exactly when or even how but gradually over a period of about 2 years I started to use more and more credit cards and…

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Redundancy & debt problems IVA 

Redundancy Caused Debts To Spiral

I was always taught to save money and never get into debt so when I found myself owing over £50,000 to different creditors after facing redundancy it was a shock. I’m an educated woman who had a good job as an estate agent earning £30k per year plus bonus, this was until the financial collapse in 2008. Suddenly the housing market crashed and my job was no longer safe but I always assumed there would be a job available to me in my current employment. I was told by my employer…

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Ex Partner seperated debt IVA 

Separated But I’m Left With The Debt

I separated from my wife about 2 years ago but didn’t realise the financial impact it was set to have on my future due to the level of debt in my name. Almost all credit cards, loans, mortgage and other debts were in my name because my credit rating was far superior due to my well paying job. The debt was always manageable because we had two wages coming into the house, albeit her income was from a part time job it certainly helped. After years of fighting and unhappiness…

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IVA Debt advice IVA 

Bad Debt Advice Cost Me Inheritance

When I managed to get into around £30,000 of debt and I was borrowing more money each month just to survive I realised i had to seek debt advice. I called a debt advice company who took all my income and outgoings information before telling me i was suitable for something called an IVA. They explained the IVA would allow me to repay the debt over 5 years and any debt still outstanding at the end would simply be written off. This sounded like the perfect debt solution for me…

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