question category: IVA
Hi, I am in debt of £17,400 is IVA best option?
Hi, I am in debt of £17,400 comprising a £2000 overdraft and 5 credit cards built up through university and travelling. I have spoken to a representative at Baines and Ernst who have advised I apply for an IVA and pay back £190 a month. My salary is £18,000, I take home £1083 a month after tax. I am not on any benefits. I rent a flat with my boyfriend. Is this the best option for me? I understand this will seriously hurt my credit rating and I will not be able to get credit while on IVA and some time after. Could this affect me emigrating to another country when older? As this is something that I would like to do. What other effects could this have on my life? Any advice would be great, and if you need any further information please just ask. Thank you.
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