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Posted: Mon Jul 27, 2015 10:43 pm
by Kanza
I have more than 60.000 pounds debt can i consider I v a
Posted: Tue Jul 28, 2015 1:53 am
by luluj
Hi and welcome to the forum. An iva is not based solely on the debt level. Your income and outgoings need to be assessed to establish affordability. If you own your own home any equity will be taken into account and some of this may have to be realised into your iva to provide a higher return to creditors.
Its best to get two or three opinions from IVA experts before deciding which debt solution route to take.
Other solutions maybe bankruptcy or debt management plan.
Posted: Tue Jul 28, 2015 8:09 am
by Shining
Hi and a very warm welcome to the forum. You've found us and you've recognised you may need some assistance with your debt level, first step complete.
Now as Luluj suggests to talk to 2 or 3 companies about your options is the next step, digest all the information and make an informed decision. There will be a solution and remember we're always here for advice and support along the way.
Posted: Tue Jul 28, 2015 8:39 am
by Foggy
Hi. As suggested, have a chat with a few companies ( they all operate in different ways and you need to find one you gel with). Also have a good wander around the forum to see who is getting praise ( and who isn't ).