Hi do I qualify for IVA

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katie741

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Post by katie741 » Mon Aug 16, 2021 10:57 am
Hi do I qualify for IVA for debt up to 953.93

kallis3

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Post by kallis3 » Mon Aug 16, 2021 11:06 am
I take it your figures are correct at under £1000? If so, no you don't qualify for an IVA. You could try making an arrangement with your creditors.
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

Foggy

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Post by Foggy » Mon Aug 16, 2021 11:48 am
An IVA, for a debt of that size, would be a sledgehammer to crack a nut ! There are far better ways of dealing the that sort of debt, such as a Debt Management Plan, which can be arranged for you through someone like StepChange, or even agreed between you and your creditor(s) directly.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

gemma685

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Post by gemma685 » Wed Aug 18, 2021 8:24 pm
I’m sure it’s minimum £6000 debt

Foggy

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Post by Foggy » Thu Aug 19, 2021 9:32 am
Wed Aug 18, 2021 8:24 pmgemma685 wrote:
I’m sure it’s minimum £6000 debt
Some firms say £5k, some £6k and some £10k --- these are their own preferences. I do not believe that there is a set amount in the regulations, but under £10k could, depending on circumstances, be better dealt with by a DRO or DMP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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