Amount of debt for IVA?

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Julie

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Post by Julie » Thu Apr 02, 2009 9:10 pm
Is there a limit on the amount of debt you can have to qualify for an IVA? I've just seen a TV advert that states if your debt is between 10 - 110K you may qualify.

I'm sure I've read about IVA's with debts that exceed £110K????
 
 

MelanieGiles

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Post by MelanieGiles » Thu Apr 02, 2009 9:20 pm
No - I have a client at the moment who owed £3,600,000 and his IVA is ongoing!

There are no limits, only commercial ones set by individual firms based on their experiences. Which firm was behind this advert?
Regards, Melanie Giles, Insolvency Practitioner
 
 

Julie

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Post by Julie » Thu Apr 02, 2009 9:32 pm
Mel - I think it was Debt free direct but don't quote me on it. I was surprised as they said "they would find the right debt solution for you".

I'll keep an eye out for the advert again.
 
 

emma_t

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Post by emma_t » Thu Apr 02, 2009 9:37 pm
I saw a worrying advert in the back of a newspaper today, can't remmber the company but it was advising on iva's and stated they could give an immediate decision over the phone.

I know they will be meaning it will be a decision on if they can help, but the way it is worded and the way it looks in print is very misleading.

If only my memory was a bit better i could tell you who the advert was placed by, but alas I have forgotton already[:I]
Be positive & look after yourself, there are more important things in life than debts....

Best Wishes

Emma x
 
 

kallis3

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Post by kallis3 » Thu Apr 02, 2009 9:45 pm
It obviously wasn't that good an advert Emma!
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
 
 

Confused.com

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Post by Confused.com » Thu Apr 02, 2009 11:09 pm
I noticed an advert in our yellow pages that also stated that they could give an immediate decision..what a scam
 
 

kallis3

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Post by kallis3 » Fri Apr 03, 2009 9:11 am
They can give you an immediate decision - who is to say it is the right one though?
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
 
 

David Mond

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Post by David Mond » Sat Apr 04, 2009 10:19 pm
emma T -Do you remember the title of the newspaper?
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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