Barclaycard IVA the right option?

[DRC1984]

Hi, hoping someone may be able to advise

 

I currently owe

 

Barclaycard credit cards - £22,000

Barclaycard overdraft - £3000

BOS credit card - £600

 

debt has become difficult to deal with, monthly payments etc.

I'm self employed and live in the UK.

 

How receptive are Barclaycard and would I be able to write off some of the debt?

I've had the barclaycards for over 10 years.

I got PPI back from one of them and used that to pay off some of the debts.

I used to earn a lot more money so wasn't really a problem until now.

Maybe missed payments only a few times in all that time.

 

thanks in advance

[dx100uk]

are all your debts being paid to the banks or a DCA?

 

dx

[DRC1984]

thanks for the reply, to the banks

[citizenB]

We have heard some bad things about IVAs.. if you dont own any assets, then perhaps bankruptcy would be an option ?

 

Perhaps you could enter a self administered DMP or use one of the free DMP companies such as Stepchange or PayPlan.

 

National Debtline would be able to advise your best option.

 

You would be looking to make a reduced payment and request that they freeze the interest and dont add any charges.

[DRC1984]

I'd want to avoid bankruptcy if I can.

Didn't know about those organisations, thanks for that.

 

Gonna give them a try

thanks again

[citizenB]