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T O P I C R E V I E W
koc
Posted - 09 February 2009 : 10:48:41 Myself and my husband have just had a baby and have severe debt problems that amount to about £50,000 unsecured and our mortgage of £160,000. We are trying to enter an IVA however now we are both facing redundancy which makes this option difficult. Is it best to declare ourselves bankrupt and what happens to us and our home?
3 L A T E S T R E P L I E S (Newest First)
Melanie.n
Posted - 09 February 2009 : 11:13:57 Just to add following 'moving on's advice - your Insolvency Practitioner (IP) with whom you were dealing with your IVA will have all the details re your property etc and they will be best placed to give you the advice you need. If an IVA was something you were considering but had not yet approached an IP have a look on out sister site iva.co.uk you will find some highly regarded IP's on there or alternatively look at iva.com and seek out the reviews on the IP's who are on there. Alternatively we can all help on here with any queries or concerns you may have, but we would need more info such as value of property v outstanding mortgag etc
Hope this helps
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles 01446 711780 melanienicholas@jonesgiles.co.uk
movin on
Posted - 09 February 2009 : 10:57:14 Forgot to ask - Do you have any equity in your home ? and what are your assets (if any) is there any secured loans in addition to the amount stated?
movin on
Posted - 09 February 2009 : 10:55:50 Hey koc and a very warm welcome to the forum.
I would speak to the IP who you are currently dealing with and tell them your situation. They will advise the best course of action to suit your circumstances. Of course you can call the helpline number at the top of the page and they will be able to give you advise.
Please try not to worry too much as there will be a solution out there for you.
