Hi I have two questions. I owe £16757 am unemployed due to ill health and would like to enter into an IVA. I can pay approx £160 per month as with DMP i am on. Some companies have said you have to be employed others have said its fine not to be can you tell me whether this is true. Secondly I maybe able to borrow some money from family member for lump sum iva up to about £8000 due you think this amount would be sufficient for creditors. thankyou
Hi Nicola and welcome to the forum, I would take a look at www.iva.com for a list of companies and speak to at least 2 or 3 to get some professional impartial advice.
Our professionals who post on forum may be around a bit later to advise too x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi
It really depends on many factors so do have a chat with a couple of experts/companies.
Maybe your DMP will be able to negotiate a full and final payment to all your creditors ? the costs of a full and final IVA will eat into your 8k.
Regards
There are a few companies who would look at doing an IVA for you with low disposable income - but I would also encourage you to look at the benefits of bankruptcy proceedings unless you have assets which would be at risk under this process.
