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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by luckycharm[/i] [br]Hi all, I am a newbie looking for some advice about BI. At the moment I am waiting for my creditors meeting for a one off IVA using money that a relative is very kindly lending us. I am worried sick about what will happen in the case that it is rejected and feel I have to have a plan B. We owe too much money for a DMP so the only other alternative will be BR. The wonderfully kind and supportive people on IVA.co.uk advised me to post on here so here goes....owe £125,000 all unsecured debt, only secured debt is a mortgage which is not in arrears and we have never missed or been late on a payment, no assets other than house which is in negative equity. My main concern is losing our home, it would be devastating!! My query is if our IVA is rejected and we then go BR, would we be able to buy back the BI in the house using the money that our relative is lending us? Would they make us wait 2 years and 3 months under the new rule to see what the house was worth or if we made them a good offer straight away and there is no equity in the house would they sell the BI to us right away (the money from relative won't be available in 2-3 years time)? Also, does it make any difference that we live in Northern Ireland? Thanking you in advance and thanks for listening. [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.