Qualification for an IVA is not automatic nor is it guaranteed. Qualification for an IVA depends on the personal circumstances that surround each individual case.
Establishing whether or not your circumstances qualify you for an IVA is the first step in the IVA process.
For IVA qualification you must:
- Have at least £15,000 worth of unsecured debts
- Have at least 3 different creditors, each with a debt of over £1,000
- Be able to afford the minimum monthly payment into the IVA
- You must not have an income which is totally benefits based.
- You must have the United Kingdom as your main centre of interest for at least the last 3 months.
If your situation meets the above IVA criteria, then why not take a look at our online debt calculator. It will help you establish whether an IVA is the most suitable option for you. It also calculates the affordability of an IVA for the level of the debt you have, based on how much your creditors are expecting you to repay each month.
Once you are sure that your circumstances are above the IVA minimum requirements, your next step will be to select the best IVA company to help you propose your IVA.
My IVA Adviser specialise in helping people enter into IVAs. We have a small dedicated team of IVA advisers that are not commission driven, therefore you can rest assured their advice will be independent and impartial.
Call 0800 088 7503 now to discuss how we can get the IVA process under way for you.
At My IVA Adviser we specialise in giving IVA advice, and the IVA articles we’ve written are designed to help you make the right choice for you.
No hard selling, no pressure tactics, just straight forward honest advice.
After all, asking yourself : “Do I really need an IVA?” is a question only you can answer.
Alternatively you can call 0800 088 7503 and speak to one of our IVA advisers about whether you qualify for an IVA or not.
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