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Posted: Mon Jan 07, 2008 2:23 pm
by j.my
do you have to be a home owner or even have a mortgage to be able to do an iva??? i have debts of 32000 and now the interest on credit cards is exceeding what the minimum payments are which is already more than i can afford. please help
Posted: Mon Jan 07, 2008 2:26 pm
by MelanieGiles
Hi jmy and welcome to the forum
No - you can still apply if you live in rented accomodation, and the first stage to looking at options is to work out what you could comfortably afford to pay to your creditors on a monthly basis. If you can post more information about your circumstances, we can assist further.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Mon Jan 07, 2008 2:47 pm
by The Stones
I'm no expert, this is purely my point of view.
You don't need to be a home owner etc to do an IVA. If anything, i'd say to anyone with their own home, not to sell before an IVA.
We had a lovely 400year old cottage prior to our IVA. We had lovingly and painstakingly renovated it, not to completion though, we still had a fair way to go. Yet we thought we'd have to sell, so, we sold the cottage and paid off some debts with the equity. O boy I wish we hadn't. To think we could've still had our home, grieves me.
Ok rant over....
Seek some advise from a reputable company/name.
Can I recommend Melanie Giles to you? take a look at her site.
I wish I knew about her before we took out our IVA.
Good luck with whatever you decide[:X] [:)] [:)]
Posted: Mon Jan 07, 2008 3:02 pm
by Oliver
No you absolutely do not have to be a homeowner to be eligible to apply for an IVA. One of the advantages of an IVA over Bankruptcy is that if you are a homeowner you can often retain the ownership of your property (as oppossed to losing it to the court). However, there are other positives involved with proposing an IVA and these are open to homeowners and renters alike.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp