if your income is from benefits

[linda.ld]

this is the second question is it true that if your income is from benefits then you are not able to apply for an IVA?

[freelili]

Hi there

It is unlikely that you would have enough disposable income to propose an IVA. You may be able to think about a full and final if you have an asset? If not then a dmp or Bankruptcy (I know how scary that word was when I first heard it but its just a word) and not as bad as you may think.

Good luck now

[freelili]

and please feel free to ask as much as you need to know. Most of us here have been in debt street and understand its a black place to be.

[Adam Davies]

Hi
I believe that creditor attitude is actally changing towards this subject. Lily is correct in that generally IVAs have not been possible in the past for benefit only incomes but it is certianly now worth speaking to several companies to see if they will propose an IVA for you.
Regards

[MelanieGiles]

It does really depend upom your disposable income. There is no reason why you could not propose an IVA, but you do have to be sure you could afford to meet the repayments and that your income was stable

[David Mond]

However you can do now and if it is not a PCIVA (Protocol compliant IVA) then you can do a straight forward non-protocol one - depending on your overall disposeable income.

You need to have a chat with an IP and give him/her details of all your personal and financial circumstances and particulars.

Visit www.iva.com for reviews on firms and practitioners and select one or two to have a chat with.

They will give you the appropriate advice and it is free.

Let us know how you get on.

[linda.ld]

this is the second question is it true that if your income is from benefits then you are not able to apply for an IVA?

thanks to all for your help and advice

[David Mond]

Please let us know who you decide to go with and keep posting. Good luck.