Do You Qualify For IVA Help? Banishing your debts can be an uphill struggle if you can no longer make the required monthly repayments on your credit balances, but not if IVA help could possibly be at hand! IVA help comes in the form of an IVA practitioner, who could actually help you to reduce your debts with a view to getting rid of them completely five years down the line. However, you have to qualify for IVA help first!

IVA help is available for any individual with a debt total that outweighs their income. In this equation then it is unlikely that anybody would be able to make all the minimum payments of their debt and pay their household bills and mortgage at the same time. However, it is only unsecured debt that is taken into account when an application for IVA help is made. Secured debts could actually be covered by the sale of an individual’s home and so do not require IVA coverage.

IVA help is also only available to individuals with a monthly income. An individual would have to be paid a guaranteed amount every month, or at least have a basic guaranteed amount in order to qualify because there would be no way of assessing how much he or she could afford to pay without a monthly income to base calculations on. Put simply, without a guaranteed income there is no IVA.

Finally, the individual in question must be ready to commit to the IVA for five years as that is usually how long the agreements last for. It is a long time, but he or she would have the peace of mind that all debts would be gone at the end of that time because his or her credit would be restricted in the meantime! As long as you are prepared to commit and do qualify under the above criteria then IVA help is just an application away!