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would I qualify for an IVA my debts are £6922.21 I earn £1020.00 per month after deductions monthly out goings before any debts are approx £841.10 can you help please

Hi Jaq_h and welcome to the forum. You would not be able to go into an IVA as at £6922 your debts are not high enough - although it probably doesn't seem like that to you! The accepted minimum for an IVA is £15-£20k of debts. Your best bet would be a debt management plan. Using your figures for your disposable income, if you can persuade your creditors to freeze the interest you could hvae your debts paid in just over 3 years. Melanie has recommended a DMP company called Brightoak **- if you have a look at the previous posts on this site you will find the details.

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/


** Brightoak call 0800 0437 222 and ask to speak to either Andrew or Catherine.
added by admin

Hello,

Skippy is right, DMP sounds like the sensible option.

The advantages of a DMP is;

Debt Management companies request that creditors freeze or reduce the interest on your debt

Grouping all of your debt into one affordable monthly repayment

Their affiliations with lenders will usually prevent any court action being taken against you for unpaid debt

Having a personal account manager to listen and sort out the agreement on your behalf
Monthly statements updating you as to your financial progress

Good luck.

Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm