Certainly not - as long as you have adequate unsecured debts and creditors, and can achieve a reasonable dividend through payments, you are able to propose an IVA.
You should probably speak to a few insolvency practices to get some personal advice and compare the options available to you. There are many listed on www.iva.com , and the people here will also help you informally with any questions you might have.
It will all depend on your circumstances. Make a couple of phone calls for some free and impartial advice.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As the others have said - no you don't need to own a property - it can actually sometimes make things easier if you don't!
Speak to 2 or 3 companies to get some specific advice for your situation and make sure you understand all the options available to you so you can make the best decision.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
If you are a home owner, there are special provisions containe within an IVA to deal with the property, so do make sure that the IP you may choose to represent you fully appraises you of these before you commit.
