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Hi do I qualify for IVA
Posted: Mon Aug 16, 2021 10:57 am
by katie741
Hi do I qualify for IVA for debt up to 953.93
Re: <t>Hi do I qualify for IVA</t>
Posted: Mon Aug 16, 2021 11:06 am
by kallis3
I take it your figures are correct at under £1000? If so, no you don't qualify for an IVA. You could try making an arrangement with your creditors.
Re: <t>Hi do I qualify for IVA</t>
Posted: Mon Aug 16, 2021 11:48 am
by Foggy
An IVA, for a debt of that size, would be a sledgehammer to crack a nut ! There are far better ways of dealing the that sort of debt, such as a Debt Management Plan, which can be arranged for you through someone like StepChange, or even agreed between you and your creditor(s) directly.
Re: <t>Hi do I qualify for IVA</t>
Posted: Wed Aug 18, 2021 8:24 pm
by gemma685
I’m sure it’s minimum £6000 debt
Re: <t>Hi do I qualify for IVA</t>
Posted: Thu Aug 19, 2021 9:32 am
by Foggy
Wed Aug 18, 2021 8:24 pmgemma685 wrote:
I’m sure it’s minimum £6000 debt
Some firms say £5k, some £6k and some £10k --- these are their own preferences. I do not believe that there is a set amount in the regulations, but under £10k could, depending on circumstances, be better dealt with by a DRO or DMP.