debt is 23000 pounds with one creditor

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k.jones

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Post by k.jones » Sun Feb 11, 2007 5:31 am
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If my debt is £23000 woth one creditor and my monthly outgoings would only allow approx £50 per month,would i be eligble for an IVA ?
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MelanieGiles

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Post by MelanieGiles » Sun Feb 11, 2007 9:45 am
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Hi k jones and welcome to the forum

An IVA will not work for you if you only have one creditor. In your case, you should make a direct offer to the creditor to pay over the £50 per month, or consider bankruptcy proceedings.

Is there a particular reason which finds you in your current difficulties, and who do you owe the £23k to?

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

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