shall i go iva or bankrupt, i oew a secured loan £40k and three visas total of £6000 and vodafone £1000. iam in full time employment. iam one month in arrears on my mortgage my wife left me and with all the bills if i sell my house all my problems would be solved but due to the current climate it hasnt even had one viewing yet.
Sorry to hear about your situation. It certainy sounds tough but I am sure that with a strategy you can get through the current difficulty.
It would be useful to have a little more information to be abe to help & advise you.
The unsecured side of things doesn't sound too bad but clearly the repayments of the mortgage are going to be large if there is a mortgage and secured loan.
What is the house worth ( realistically ) and how much do you owe on the mortgage & secured loan ( please list redemption penalties separately )
thanks
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com