All Forums  archive  Forum Questions  Hi, my partner and I owe approx 60k

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by Helpus[/i] [br]Hi, my partner and I owe approx 60k of nearly all on credit cards, 3.5k on an unsecured loan. We have recently had a baby and I'm currently on SMP but even when I return to work childcare means that we cannot afford even the minimum payments. We have approx £400 real dispensable income after mortgate, bills, housekeeping etc. My questions are as follows; 1. We have looked at an IVA but the figures they talked about were us having under £600 per month for everything our family needs - we cannot raise a child on such a tight budget but is there a possibility that BR would be rejected because we can 'afford' an IVA? 2. My car is on finance. If it has to go back will they allow money that would go toward an IPA to purchase another car (it is essential to get to work). 3. We are both going to file for BR - once both accepted will the OR look at our budgets jointly (I wouldn't earn enough to pay into an IPA but my partner would)? Thanks. [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.