www.iva.co.uk

hi, i have a total debt of 11,000 pounds shared among 7 creditors, how much a month would i be expected to pay a month, roughly

Hiya wixxben and welcome.
Your monthly payment in an IVA will be entirely dependant on how much you can afford to pay. Every IVA is individual. If you can post a bit more info, disposable income, assets, then the experts will be able to advise you better,
sorry I haven't been any more help

i have 1 CCJ and another is in the hands of the county court at the moment.

i am currently unemployed but i am in the proccess of joining the army, my estimated time of start date of army in middle of may 2008.

would £50 a month be enough to keep my creditors happy.

With only 11000 worth of debts, an IVA would not be suitable. Maybe you would be better trying to get creditors to accept reduced payments or if you are not a home owner you could consider bankruptcy

i have offered my creditors a reduced payment and they are being unreasonable, they all are wanting around £50-100 a month each, i have offered reduced amount and they say they are not able to accept my offer. i am living with parents at the moment.

Then i would seriously look into whether or not Bankruptcy would jeopardise your army career.

If you're in the process of joining the army you may want to check that br will not cause a problem. I have heard that it can sometimes although the forces are becoming more tolerant.

bankruptcy will jepordise my army careerand they strive on bossting their soldiers are also good money managers.

I would seek advice from a proffessional who could negotiate with your creditors to accept reduced payments.

I would recommend Andrew Graveson who posts on this forum. You can find his details on the experts page.

I would wait for Melanie Giles, an ip who posts a lot on the forum to reply, as she is an expert in all things Army and will know.

I thought iva's were only suitable for debts above £15k but not sure if this is a strict rule or not.

One for the experts I think
Emma

Just bringing this one back to the top,
xx

Hi there and good luck with your application to the Army. From personal experience I can say how rewarding a career in the forces actually is - albeit it is a little more dangerous than in my day!

With debts of £11,000 and IVA is not really viable, so I would try and make ongoing pro-rata payments in the meantime until you join up when presumably your salary will increase. A carefully managed repayment plan will soon see those debts reduced.