thankyou for your help. I have just worked out that over 60 months it would cost me £240 a month to pay off my debts - if no interest was charged, but one of my creditors is for my car hp which i have only 18 months left to go on a 5 year hp. i have a settlemet figure of £2500 for the car, would the...

can you tell me if i am a candidtae for an IVA.
We own our house, but with no equity to get a loan to pay off crippling debts.
My debt is £15500 from 6 creditors,
The household monthly income is £1500,
Our monthly expenses excluding debts £1250,
Therefore monthly desposable income is £250.