www.iva.co.uk

What are the criteria to qualify for IVA? Is there any minimum debt amount for this? I have 2 credit cards and mortgage to pay off.

Hi Ann and a warm welcome to the forum

These days there are not really any set criteria for being able to propose an IVA, but it would be helpful if you could let us know how much you owe to the two credit cards.

The mortgage cannot be included in the IVA, as it is secured against your property and thus regular mortgage payments will need to be maintained on that account.

How much do you feel that you could afford to offer to creditors on a monthly basis, having allowed for all of your houseshold and general expenditure?

Hi Ann,

How much do you owe in total to your unsecured debts?

Hi Ann,

Having read your post on the no smoking thread, it would appear that you are unemployed. If this is the case then an IVA would not be possible at the moment. Are you keeping up with your mortgage payments?

Thanks for your reply. I am not employed, lost job recently. Total debt on 2 cards is 12k approx.

Hi
It may be worth looking at making token payments to your card companies and explaining your situation.
Once you are back at work you could look at your options again
Good luck
Regards