Hi.. I’m a single parent on part time hours and I have debts of about 20k. It’s starting to keep me up at night and effecting my health. If I enter a Iva will I be able to afford to live and support my children? How much a month will they take off me?
They take your income figure and allow you to keep fom that, allowances for essential living. What is left is your IVA payment. An IVA might not be the way to go and a chat with a friendly IP will determine that ... a DRO might work, if you have no assets and debts below £20k, along with disposable income of less than £50 per month. https://www.citizensadvice.org.uk/debt- ... d-to-know/
Have a chat with a few providers to see who you gel with. Also read around the forum to see our own experiences with various firms.
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