Debt – It Happens To The Best Of Us

The hounds are at your door, with calls coming in at all hours of the day and evening; few things are more tenacious than creditors wanting payment. You’re trying your best, working to do what you can but you still aren’t getting ahead; worse still, you’re falling behind.

It often only takes one bad break – a major car repair or some other unexpected expense – to create a seemingly vicious downward spiral. But if you think you’re left alone to face your financial turmoil, think again, because there is help to be had. You may want to consider working with a debt consolidation agency; I did and it was a huge relief to know I had someone in my corner.

The debt management agency reviewed my financial situation and offered me the best solution (which, in my case was thankfully not bankruptcy). I was set up for an IVA. What is IVA? IVA stands for Individual Voluntary Arrangement, where I worked out a plan with my creditors to get my interest rates lowered and to combine all my debt into one monthly bill that I could actually afford.

Your own individual plan will be based on your particular situation and level of debt, but I was thrilled to be able to keep my home safe from creditors and to be able to repay my debt whilst still being able to afford the necessities each month. It took work, I won’t lie to you – but becoming debt-free was one of my proudest moments, yet I couldn’t have done it without having professional advice and a financial gatekeeper to look out for me. Once the agreement was made the harassing phone calls stopped and I was able to get back on track faster than I ever could have predicted.

Is debt management the right course for you? Have a look and see.