IVA if I am not employed ?

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s560

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Post by s560 » Tue Oct 07, 2008 6:13 pm
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Do I still qualify for an IVA if I am not employed
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Adam Davies

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Post by Adam Davies » Tue Oct 07, 2008 6:22 pm
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Hi
You could qualify for a full and final settlement IVA.
You could also qualify for a monthly IVA if you had a third party who could pay it for you.If your income is based solely on benefits then a monthly IVA will not be possible
Regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Tue Oct 07, 2008 8:47 pm
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If you were to propose an IVA based on a third party paying the contributions for you (which I would only look at doing under very exceptional circumstances) your IP would need a personal guarantee to be provided by your funder. As Andy says, generally IVAs are only available for the unemployed if there are assets which could be offered in full and final settlement.
Regards, Melanie Giles, Insolvency Practitioner
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luluj

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Post by luluj » Wed Oct 08, 2008 8:14 am
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Why not consider DMP or Bankruptcy- it depends on your circumstances and reasons for not working. Post some more details and we may be able to offer more advice.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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David Mond

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Post by David Mond » Wed Oct 08, 2008 9:58 am
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Yes - full information about your personal circumstances are a must before anyone can attempt to give you advice
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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