www.iva.co.uk

hi can you tell me if you have to miss payments to credit card companies before you can apply for iva thanks

Hi mitsu8.

It is not a requirement that payments are missed before you start the ball rolling to look at an IVA or other debt solution. I would estimate that upwards of 75% to 80% of the clients I speak to have never missed payments, indeed it is to your credit, pardon the pun, that you seem to have realised that there is a problem before it gets any worse.

Regards.

You have to be insolvent - which means that you cannot afford to pay the contractual payments on your debts as they fall due without relying on further sources of credit to do so.

Hi mitsu8

I have had an IVA for over 3 years now and I hadn't missed a payment but I was unable to continue as I was using credit cards to pay bills and buy groceries and the credit cards were getting maxed out.
Jan

never missed a payment till i started the process, hopefully sorted soon too

Same here we hadnt missed any payments either.

Ang

Hey Mitsu8, I hadn't missed a payment either but I was only meeting my minumum payments on credit cards and my loan repayments by drawing money out on different credit cards and using that.[:(]