IVA with 48K rental income ?

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Hello this is my second post.

I want an IVA but I have no employment income at the moment.

I am looking for work and trying to get interviews.

I have a regular rental income of 48K ( two properties let at 2K per month )

With only rental income and no employment income, can I qualify for an IVA ? Who do I have to persuade?

Thank you

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  • Tixy
    Tixy Posts: 31,455 Forumite
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    Ultimately it will come down to whether your creditors vote to approve your IVA or not. And that will depend on whether they think there are better ways to get their money out of you (eg charging orders on your properties) and whether you are likely to be able to sustain payments at a level they are happy with the return on.

    You need to seek some professional advice on IVAs. Make sure you consult several different IPs and make sure you also speak to one of the debt charities - (links here - IMPORTANT - Where to seek professional impartial advice about your debts. ) Remember an IP will make a lot of money out of arranging an IVA so not all will always be acting in your own best interests.

    Might also be worth a read of this - IVAs are they worth it?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
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