I owe approximately 25,000 and the equity I own in my property is roughly equal to this. I cannot make monthly payments to all my creditors and live as I am on minimum wage. I have had my property on the market for over a year hoping that it would sell before my debts escalated but it has not. I do not have sufficient disposable income for IVA.
hi and welcome to the forum can i suggest that you contact one of the professional forum experts link at the left of the page, give them a little bit more info and they should be able to advise your options, i know RevivaUK and Paul Johns have other options they help people with other than BR or IVA
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurhman) RevivaUK and Paul Johns helped me through it all i can't recommend them enough!!
You don't necessarily need disposable income to do an IVA, if you have equity in your property.
As Chester2005 says, the best thing to do is seek advice before taking any action, and before your creditors start taking action
Good luck
Bridgewood specialise in helping people deal with their debts and make the most of their financial situation - providing free, no obligation debt advice.
I owe approximately 25,000
Posted - 17 June 2010 : 23:47:17
