Hi - I don't think there is one as long as you have an income or pension for the next 5/6 years that will cover your monthly repayments. You can find a few advisors who will give free advice at www.iva.com Good luck
While there is no age limit, we tend to propose three year IVAs for the retired rather than five. Sometimes it is accepted and other times the IVA is extended to five by creditors. There is no harm in trying.
There is definitely no age limit for an IVA. However, as with all IVAs, your ability to enter into one will be based on your personal circumstances - ie do you have the financial means to suport the required payments for the standard period of five years?
My oldest client was 74, and although we all felt that bankruptcy would have been a better option for him personally, he was adament that he wanted to repay his debts. When you think of it, there is no more secure income than that from state and occupational pensions.
That's right - you're never going to lose them are you?
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
I wouldn't be so confident about that if I were you.
Dave and Nicks next big idea is to raise the retirement age to 70, and both your parents need to sign the consent form.
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
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
