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I am not sure which debt solution is best for me, I have entered my information on several websites. They have shown me that IVA and debt management are the best options in my case but I can’t decide what I want to do.
If I do an IVA how long do I have a bad credit rating for? Also, I would like to buy a house in the next 4-5 years will this be effected by any of the two debt procedures? Please can someone advise me on what I should do. Thanks

3 Thoughts on Which Debt Solution is Best for Me?
  1. Reply
    micky b
    June 23, 2011 at 8:11 am

    This site will definately help you:

  2. Reply
    Rhea R
    June 23, 2011 at 9:05 am

    Are you getting into credit counseling where this company will pay off all your debt and cut down the balances into half and you just have to pay them a monthly payment?
    If yes,please never ever ever make a mistake to go for it..that is almost like filing a Bankruptcy Chapter 13. Anytime your credit report shows that you are in debt management program , you will not be offered any financing,..period!! buying a house will be impossible.Please do not go for it,you will repent later on.Try to pay those accounts off yourself,you have opened that debt and you are responsible for paying it off.Maybe talk to the credit card companies to workout a payment plan or something….There is no other solution to this,it is your debt you have to work to pay it off.

  3. Reply
    matt b
    June 23, 2011 at 9:56 am

    Hi, Unfortunately without seeing your exact income and expenditure form, and your assets and liabilites, it would be difficult to say which debt solution would be best for you. As you would understand, going into an IVA must not be taken lightly and it does depend on your exact finances. It has been two years since I entered into an IVA agreement and I used the internet to help with my decision. I must recommend to you an amazing website that I used called It has many useful resources and information, that I found invaluable in making my decision to go into an IVA. If you take the time to read through this information, it should help you enormously. Their debt analyser is very helpful, and after you have done that they could call you to help you through your decision. This is what I did and I am hugely grateful. Regarding your credit rating, going into an IVA may impair your credit rating, but if you stick to the 5 year IVA, then that would stand you in good stead. I hope this information helps you. Good Luck!

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