www.iva.co.uk

Posted: **Thu Dec 06, 2007 11:26 pm**

Is it true that you cannot apply for anything else other then banruptcy if your bills in question are less then 1 year old? The amount in question is between £20k and £30k.

Posted: **Fri Dec 07, 2007 8:28 am**

Hi Mark t. Do you mean an IVA or DMP. You can apply for an IVA or DMP, at anytime, regardless to how old your debts are. You should speak to one of the experts on this forum. Melanie is highly recommended.

Posted: **Fri Dec 07, 2007 8:32 am**

Hiya Mark and welcome to the forum.
If you could post a little more info about your circumstances, creditors and how much you owe to each, im sure one of the experts can advise you better.

mrs skint but almost free

Posted: **Fri Dec 07, 2007 9:08 am**

To add my 10 cents worth, I have just been through BR, and I learnt that the OR looks very carefully at any debts run up in the last 12 months.

Posted: **Fri Dec 07, 2007 1:25 pm**

Im sure most people on here had debt that had been run up in the year before they applied for an IVA or BR.

Posted: **Fri Dec 07, 2007 1:32 pm**

I did, that's why I didn't think it would matter how old the debts were.

Posted: **Fri Dec 07, 2007 2:30 pm**

I did as well. I was using one of my credit cards (whilst paying minimum balance) until August. I have, obviously, now stopped.

Posted: **Fri Dec 07, 2007 6:55 pm**

If Black Horse are one of your creditors you could have a problem - they vote no if the debt is more than £7.5k or the money was borrowed in the last 12 months.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Posted: **Fri Dec 07, 2007 10:17 pm**

Hi Mark,

There is no defining reason why you should not apply for an IVA or any other debt solution if your debts are less than one year old.

An IP will be able to advise you whether your proposal is likely to be succesful based on your unique personal circumstances.

Andrew Graveson
Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

Posted: **Fri Dec 07, 2007 10:55 pm**

There is no reason why you should not propose an IVA to creditors if your debts are less than 1 year old, so long as you did not incur them when you knew you would be unable to repay them under usual contractual terms.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

www.iva.co.uk

if your bills are less then 1 year old?