question category: IVA

How do I know whether I will be eligible for an IVA?
Submitted on: 25th Oct 2008 by Non-Member | Total Answers: 1

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Re: How do I know whether I will be eligible for an IVA?

To be eligible for an IVA your total debts normally need to exceed £15,000 although it is possible to have an IVA proposal accepted with less debt. There is no upper limit. You also need to be able to afford the repayments agreed every month for the full term of the IVA, which is usually 5 years. Missing payments may result in the IVA failing and you being forced into bankruptcy. Being eligible may not mean that an IVA is the best debt solution. That is why it will be important that you do talk to an experienced advisor sooner rather than later.

 

Popular IVA searches: free iva, iva companies, iva calculator, iva explained, iva gov

 

Submitted on: 26th Oct 2008 by TA Member

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