Debt Management Case Study

IVA not a option due to unstable employment history.

Debt: £21,325 Was paying: £450/month
Now paying: £300/month
This client lost his job and was out of work for several months. He began to live on credit and the balance grew to £21,325. The client started a new job month ago, but must serve a 3 month probation period.

He has a value of debt that makes him eligible for an IVA. However, the fact that he had just started a new job and has recently had a period without work means this option is not currently available to him.

Creditors need to be confident that payments into the IVA will be made at the agreed rate each and every month for 5 years. A Debt Management programme is more flexible in this respect and suits this clients current situation.



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