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Posted: Sun Dec 30, 2007 4:34 pm
by paul_w
Hi,
Quick question if I have a debt of £42,000 and some creditors are threatning CCJ's how much can I remove of the debt with a IVA? I am on low income at present.
Kind regards
Paul
Posted: Sun Dec 30, 2007 4:48 pm
by Adam Davies
Hi Paul and welcome
You have to declare the whole of your unsecured debts in an IVA and offer the whole of your disposible income each month as payment.At the end of the five year term any remaining debts are written off.
If you can post back your disposible income[i;e the income that you have left after essential living costs,not including unsecured debt repayments]then we can advise further.
Also are you a homeowner ?
Regards
Andy Davie
IVA.co.uk Spokesperson and Website Manager
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp