Will I get an IVA easily with these creditors ?

minniesmommy

Hi
I am new on here and am trying to learn. I understand already that some creditors do not like IVA. I am at the point of my DFD advisor submitting the proposals this week.
My creditors are as follows.

Lloyds TSb Loan £5000
Lloyds TSB Cedit card £1900
Lloyds TSB Overdraft Graduate account £1950

MBNA - £2300 Credit card

Royal Bank of Scotland - £3300 Credit card

Choice catalogue £3200

HSBC - £1300 Credit Card.
Capital One - £1000 Credit card.
Creation Financial services £1900 total on 2 cards.
Vanquis card £500
Aqua card £500

I understand MBNA and HSBC hate IVA's
This mainly grew before 2007 when I did my University course and we could not get funding.
All is unsecured and was up to date until recently when ill health disrupted payments.
Rented home and no car.

DarkConvict

Hi,

IVA's are used to protect assets, if you have no car, home (or other sizeable asset like a pension) then an IVA is not for you. Who have you consulted about IVAs so far.
National debtline and CCCS provide some of the best free professional advice on debt, ive them a call.

DRO won't work as debts are over £15,000.
IVA to me seems unsuitable for you.
DMP (assuming their is no interest, and you can afford £333 a month it will take 6 years to pay of your debts)

If you have no hope of paying it back (not high enough salary), then maybe bankruptcy could be an option.