financial independence

What options do you have to take care of your debt

This is a sponsored review for trapped.co.uk a website which allows you to compare the various debt choices available to you and decide which solution best suits your circumstances which is the best debt choice you can make.

Debt is a nasty situation to be in it spirals and the longer you take to the deal with it the more out of control it becomes, its hard to know which options are best for you bankruptcy, an IVA or payment plan.

ivas (Individual Voluntary Arrangements) are an option when struggling to cope with the monthly repayments on unsecured debt.

Whats and IVA?

Just because you have money problems doesn't mean you've been irresponsible with your credit, a change in circumstance is probably the main reason people get into difficulty. Thats what happened to todays interviewee Katie Edwards.

Katie is an undischarged bankrupt and runs a site to help Ladies in debt called ladies in the red here is the interview with her. Katies answers are in Italic.

What is your full name?

Katie Edwards

Ladies in Red - a site for ladies with Money troubles

What made you start the site?

I have just been reading the site of my next interviewee (she's not getting a link till the interview) and discovered Billionaire Donald Trump has been bankrupt not Once but Twice!!

I like this quote from her site aswell "How I went from Prada to Primark in One Week"

Back to Donald Trump who went backrupt Once in the 90's and again in 2004, I think bankruptcy for him was probably more of a business move than an arrrrrrrgh! I am in the poo what am I gonna do now decision.

I don't think its that easy to go bankrupt though, I haven't tried yet but I don't think you can just go and have a big old spend up then decide you can't pay and call in the official recievers.

Heres a snippet from my next interviewees site of what happened to her