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Posted: Thu Apr 18, 2013 4:54 pm
by hopefull1
Hi
Can you do an iva if you owe about £14.000.
Thanks
Posted: Thu Apr 18, 2013 5:37 pm
by Foggy
Hi. Yes, you probably can, but at that level of debt it might not be the best option, depending upon all of the circumstances. Best to have a chat with a couple of IPs ( have a look at
www.iva.com) and discuss specific options --- you don't want to end up using a sledgehammer to crack a nut !
Posted: Thu Apr 18, 2013 6:06 pm
by Adam Davies
Hi
Yes that level of debt could be suitable for an IVA
Speak with several companies/experts and explore all options
Regards
Posted: Thu Apr 18, 2013 8:46 pm
by MelanieGiles
It would really depend upon the level of your disposable income, but the debt level alone should not necessarily be a barrier.
Posted: Tue Apr 23, 2013 8:10 pm
by hopefull1
HI
I would have about £175 per month to pay towards an iva.
Thanks
Posted: Tue Apr 23, 2013 8:16 pm
by MelanieGiles
Then I would happily present that as an IVA for you, but do be aware that if you were to enter into a DMP with a non-fee paying company, and if creditors agreed to freeze charges and interest on the debts, that you could repay them in full within 7 years, so that route is also worthy of consideration.