question category: IVA

How do I qualify for an IVA?


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Re: How do I qualify 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. See our list of Leading Debt Advisors who can help.

 

Re: How do I qualify for an IVA?

Debt Advice Foundation, an independent UK debt advice charity. If you're considering entering into an IVA or need further help with your IVA, Debt Advice Foundation provides a free, confidential helpline and can advise you and on whether you qualify. Click here to find out more.

 

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