total debts less than 10,000 pounds

[f4n]

if my total debts are less than 10,000 pounds am i still elidgable?... 1 unsecured loan..£4800 about 5 different energy company bills unpaid ect...total around 6k...

currently working 13k a year

im at work now.. havent read the full details but i am interested in correcting my records

[ianmillington]

Hi

On that size of debt creditors are unlikely to look favourably on an IVA.

You have 3 choices I think

Bankruptcy - Do you have any assets and what do you do for a living?
Informal arrangement direct with creditors
Informal arrangement via a 3rd party

The advantage of Bankruptcy is it will be a quick hit but it's a destructive process and so you might care to look at one of the 2 other options. As a director of a company that provides IVAs and Debt Management Plans I don't think it appropriate for me to advise you which of those choices to take.

Hope this helps

Ian