can i get an iva

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hmd

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Post by hmd » Mon Apr 30, 2007 6:41 am
i am not a home owner but have debts greater than 15000 can i get an ivf
 
 

MelanieGiles

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Post by MelanieGiles » Mon Apr 30, 2007 7:43 am
Hi hmd and welcome to the forum

I assum you mean an "IVA"! And that your debts are in the region of £15,000?

Yes some practitioners will take on work at the smaller end, depending upon how much you are able to offer your creditors. As a guideline, you would probably need to make payments of at least £200 per month.

Often, when people only owe a relatively low amount of debt, I believe they have a debt management problem rather than a debt problem. It may therefore be that you just need to look at restructuring your finances, and possibly asking creditors to accept lower payments until you get back on your feet, so a Debt Management Programme could be the answer.



Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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