am i elligble for an IVA ?

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asia.s

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Post by asia.s » Sat Aug 23, 2008 3:58 pm
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hi there , i currently owe a couple of credit card companies the value of 4000 , also about 1000 on an unsecured loan , ive just got finished from work and have no income whatsoever , iam worried that i have a lot debt especially since i cannot even afford to pay the minumum payments no more , i was wondering am i elligble for an IVA if so how does it work out and what are the benifits for me ? many thanks
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Viki.W

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Post by Viki.W » Sat Aug 23, 2008 4:03 pm
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Hey asia, welcome to the forum. If that is your only debt then you would be best to try either negotiating with the creditors directly or entering into a debt management plan. If you have no income at the moment there are template letters on this site(on the left) that you can use to send to creditors and ask them to stop payments and interest until you find work. It doesn't always work but worth a try. You might want to contact the Citizens Advice Bureau and see if they can help. Good luck. X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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kallis3

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Post by kallis3 » Sat Aug 23, 2008 6:24 pm
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Hi Asia and welcome.

With such a small amount of debt, and no income, you would not be eligible for an IVA. Do you have any benefits? If so, you could do a Debt Management Plan as Viki suggests.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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