Personal experiences with an IVA

Jeanj21 Forumite Posts: 3
First Post
Hi there, 

I am in quite a lot of debt - £24k on credit cards and overdrafts. 

I spoke to someone recently re an IVA and I was contemplating it, however after reading through info online I think I was told wrong information - I asked if the IVA was paid off before the term ends if it would be removed from my credit score and the advisor said yes - but I don’t think that is correct? 

I have looked into loans to pay the debt however it would be around £500 a month and I cannot afford to live on the money I have left after the loan and bills. 

Please can you let me know your experiences of an IVA? 

I have a house and we are due to remortgage? Do I remortgage for the longest fixed rate term and take the IVA out? 

Thank you  


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