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Posted: Sat Mar 08, 2008 8:31 am
by six_star
do or do you not have to be a homeowner to do an IVA, as i am not an homeowner but have more than £15,000 worth of debt but could be changing jobs in the next couple of months.
Posted: Sat Mar 08, 2008 8:41 am
by Lisa2009
Quick answer.........No you dont have to be a homeowner.
Posted: Sat Mar 08, 2008 8:44 am
by pixie
Hi six star
welcome to the forum
You don't need to be an homeowner to enter an IVA. If you have 3 or more creditors and over £15k of debt then it is an option. Have a word with a few different companies and they will be able to advise if this or other solutions like debt management or BR are the right solution for you.
Posted: Sat Mar 08, 2008 8:46 am
by Jinx
I'm not a homeowner and my IVA is great! It also means you have no daft equity clauses in later stages. What you can afford is what you pay!
Mine is assess annually on my income and expenditure alone and so far payments have increased slightly each year but its still more comfortable than the debt I was in! 60 months later your debt free!
Posted: Sat Mar 08, 2008 7:48 pm
by six_star
thanks ppl i do think for me this will be the best course of action as it will allow me to get on with my life n not worry bout geting hassled by my creditrs[:D]
Posted: Sat Mar 08, 2008 9:01 pm
by Soulgrowth
Hi six star ... it will most certainly give you a fresh start and peace of mind [:)]
Keep posting and let us know how you get on ... we are all here to help each other.
Good luck
Debbie