Would I qualify for an IVA? Thank you

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angela_p

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Post by angela_p » Fri Aug 31, 2007 3:32 pm
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MelanieGiles wrote:

Current creditor criteria is that persons whose income derives solely from benefits are not suitable for an IVA. It would seem to me that bankruptcy proceedings are probably a better option for you - financially at least. Is there any particular reason why you wish to avoid this procedure.

And can I say that this is not a personal view of mine, but of creditors generally. Interesting that they don't have the same problems in lending the money to people on benefits!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
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angela_p

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Post by angela_p » Fri Aug 31, 2007 3:35 pm
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Thanks Melanie for your advice. In answer to your question as to whether there is any reason why I would prefer not to go bankrupt... its just that my mother who lives with me has just gone bankrupt and i'm not sure whether i can do the same? would i be allowed to?
thanks again.
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Oliver

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Post by Oliver » Fri Aug 31, 2007 4:32 pm
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If you are insolvent then bankruptcy is certainly a legitimate option for you. This procedure is individual so the fact that your mother has gone bankrupt will have no bearing on your case.

Best Regards
Oliver

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