Posted: Sun Feb 11, 2007 5:31 am
If my debt is £23000 woth one creditor and my monthly outgoings would only allow approx £50 per month,would i be eligble for an IVA ?
Hi k jones and welcome to the forum
An IVA will not work for you if you only have one creditor. In your case, you should make a direct offer to the creditor to pay over the £50 per month, or consider bankruptcy proceedings.
Is there a particular reason which finds you in your current difficulties, and who do you owe the £23k to?
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at http://melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk