Will an IVA help me become debt clear?
Im 24 years old, and im a private tenant and live alone, i work full time and earn just over a grand a month. Since my partner left me 4 months ago i am struggling more and more to pay of the debts i have, i should add i have a loan through Halifax, a credit card, two catalogue accounts, a small overdraft and sofas on credit which are due to start being paid back in June.
I have spoke to a compnay who have informed me i am eligible for an IVA as my debt in total is over £15,000 and i would be able to pay more than £170 a month into an IVA, the compnay is arranging for an financial advisor to caontact me later today to speak to.
I was hoping if anyone has had an IVA in the past if you could give me some advice that would be useful.
The debt i have is like a burden, ive lost my partners wages and the share i was getting of him for utility bills every month. I really need to enter some sort of agreement but dont know if an IVA would be best.