Would I qualify for an IVA?

[vicki.s]

Hi

I'm currently in £21000 debt, as follows:

HSBC overdraft £2000
HSBC Credit Card £6000
Capital One CC £5000
Loans (x2) £8000

I am currently not working, but my husband is on 29000 per year. We have a mortgage and monthly outgoings on bills, leaving us with not much spare income. Would I qualify for an IVA? And how do I go about arranging one?

Kind Regards

Vicki

[Adam Davies]

HI Vicki
I believe that you have to be working in order to enter into an IVA.
Are you looking yo get back into work in the near future ?
Just for info you wll need to return at least 40p in the £ to comply with HSBC minimum return.
Are any of the loans in joint names and does your husband have any debts ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Oliver]

Do you have young children which you look after, as in this instance you wouldn't necessarily have to be working?

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[vicki.s]

At the moment I'm in college, trying to get to Uni, with the view of trying to get a part time job whilst in college.

I have 2 children aged DD 8 years and DS 9 months. All of the debt is in my name. I was made redundant in 2005 (my husband was too at the same time), and most of the debt seems to of esculated worse from there. He was only off work for about 2/3 months, and has been in employment ever since. My husband has 1 credit card and an overdraft, totaling about £7000

Vicki

[Adam Davies]

Hi
How much disposible income will you have between you if you did not pay your unsecured debts ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp