Posted: Fri Jan 18, 2008 1:15 pm
HAVE ABOUT £8000 WORTH OF DEBT I LOST MY JOB BUT ABOUT TO START A NEW ONE ON LESS MONEY WILL ONLY GET ABOUT £800 A MONTH.HOW MUCH WOULD I HAVE TO PAY A MONTH ON THE IVA. THANKS
Welcome to the Forum pst,
To make an IVA viable or to be eligable for an IVA you would need debts of at least £15,000. However this does not mean there is no option, you could enter into a DMP or go bankrupt.
Could you provide more information, what is your disposable income (income minus general living expenses)? If your disposable income is low, bankruptcy may be the best option for you, do you own a house/have any equity?
Best Regards,
IVA Experts
http://www.iva-experts.co.uk/