Considering my options

ahomemadetouch

I have been advised that an iva is my best option but wanted some opinions
Facts

Net income of 1200
On UC and will receive child maintenance of sorts ( me and my ex alternative who claims for our child and split the difference)
Total income will be approx £2000 maybe slightly higher

I owe 14000

Currently renting my property from a housing association. 
Own my car outright

No late payments or defaults on my credit card 
Able to make minimum payments but interest means the balance is not coming down.

An IVA feels like cheating some how

SLC76

Have you looked at all your options as in a DMP or  DRO 
With the amount you have and have affordability I would look at a DMP. An IVA is very restricted and it seems that it’s mostly people with over £30k debt or some sort of equity to protect which an IVA is mostly suitable for. 

I definitely would not have gone into an IVA if I had any other option. 

I would just recommend getting all the facts before making any decisions 

good luck 🤞 

SusieT

What is the value of your car? If you read other threads on here, they suggest that an IVA is for debts of over £30,000 and for people with an asset to protect. 
Have you spoken to one of the debt charities yet to go through your options? Stepchange.org is probably the best known, but beware of others sounding like them who will charge you. Try to ignore any tv adverts and people who make money from selling you an IVA that may well not be at all suitable for you.
Have you put together a proper budget, and have you included everything in it? You may find that a DMP would be better for you with the fact that you are able to meet the payments, as if the interest was stopped it may be able to be cleared in a sensible timeframe. 
Others who know more about them than me, but just a few things to think about.  

fatbelly

ahomemadetouch said:

I have been advised that an iva is my best option but wanted some opinions
Facts

Net income of 1200
On UC and will receive child maintenance of sorts ( me and my ex alternative who claims for our child and split the difference)
Total income will be approx £2000 maybe slightly higher

So your income has not stabilised yet?

Wait until it does, and you have exact figures.

Then post a statement of affairs and we'll have a look at it.

In the meantime don't tie yourself into an IVA

sourcrates

No, that advice is bad, forget about an IVA, you have no asset to protect, and your debt is small enough to be dealt with in other ways, all you will do is line the pockets of whichever insolvency practitioner had wrongly advised you.

Take fatbellys advice and wait until things settle. 

ahomemadetouch

Thank you all that has confirmed what I was thinking I am going to let my income settle and then I will be back to post a statement of affairs