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Posted by sarah-jane : December 10th, 2007

IVA quick questions

Hi there,

I currently looking at entering an IVA as an end to my debt problems, which seems to be never ending and is start to affect my health. I have read on this site that IVA's can help sort out my debt problems, but I'm wondering if their is anything else out there that could also help consolidate my debt problems so that I will not have to pay high monthly installments..

Also, does anyone know if i will have to attend the creditors meeting?

What happens if an IVA is turned down? are there any fees?

Thank you

Sarah

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Hi Sarah

An IVA could be a great way to sort out your debt problems, but it is not necessarily the only option available. If you qualify for an IVA it should help lower your monthly payments to a more managable amount as well is give you a fixed time period to pay the debt off. When the meeting of creditors goes ahead you can attend although you dont have to. Give DAT a call and they will let you know what the best route would be for you. If they believe an IVA is suitable then they would put you in touch with a company that doesn't charge fee's.
Posted by: debt answers