www.iva.co.uk

Posted: **Tue Jan 06, 2009 11:43 am**

Can anyone tell me if i have £380.00 left over monthly. would this be enough to apply for iva with £40.00 of unsecured debt. I live in rented accom and have no assets. Many thanks

Posted: **Tue Jan 06, 2009 11:58 am**

Sorry Suei how much is your unsecured debt?? £40.00 doesnt sound a lot and must be a mis-type?

Posted: **Tue Jan 06, 2009 12:13 pm**

Hi and welcome.
An Iva could be a sollution but it would all depend on your own circumstances and Full income and expenditure.

I would advice contacting an Insolvency Practitioner and going through all your details with them so they can go through ALL the options available to you and the pro's and con's of each.

Take a look at www.iva.com

There you will find a list of IP's and reviews on each. I would also recommend you contact 2 or 3 different companies to be sure you are happy with the advice you have been given.

Good luck

Posted: **Tue Jan 06, 2009 12:18 pm**

If you have no assets, then bankruptcy could be another option, wipe the slate clean and start again.

As Mrs S says, you need to take advice from an Insolvency Practioner who will advise you as to all the options available

Posted: **Tue Jan 06, 2009 2:31 pm**

Assuming debts of £40k and a surplus of £380 there is sufficient to achieve a good dividend in an IVA but as the others have said you should speak to an IP who could advise of all options available.

Posted: **Tue Jan 06, 2009 5:14 pm**

I agree with Michael - this fits IVA criteria on grounds of dividend return, but there may well be other factors to take into consideration. Do you believe that you can comfortably afford £380 per month?

Posted: **Tue Jan 06, 2009 5:24 pm**

The surplus income and level of debt that you have, would give a good dividend for an IVA.
It would be best to discuss your situation with an Insolvency Practitioner or Debt Management Company to run through all options that may be available to you.
There are many companies on this forum that you can contact and make arrangements to discuss with them in more detail.
Good luck

Posted: **Tue Jan 06, 2009 5:27 pm**

Welcome to the forum Kazz.

Nice to see someone from Payplan represented on here.

Posted: **Tue Jan 06, 2009 5:28 pm**

I'd just like to welcome you to the forum too Kazz. Nice to see you posting. [:)]

Posted: **Tue Jan 06, 2009 10:54 pm**

Welcome Kazz from me too - Well Suei you need to explain all of your details as to debts and DI to see that everything else fits for an IVA - certainly your suggested monthly contribution is fine. Visit www.iva.com and see reviews on practitioners, select one or two and see how that feels their advice will be free. Good luck and let us know how you get on.