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T O P I C R E V I E W
dm00
Posted - 30 April 2008 : 08:02:48 i have a £22000 debt, if i have no extra funds to pay a month for an IVA is bankrupcy the answer and would i have to sell my house.
4 L A T E S T R E P L I E S (Newest First)
storm
Posted - 01 May 2008 : 09:43:16 Have you looked at either a re-mortgage or one of these companies that release the equity in your house so you can pay your debt off??
melanie_giles
Posted - 01 May 2008 : 00:29:53 The you are not insolvent and bankruptcy proceedings would possibly be the worst option available to you. Is the property jointly owned? And have you thought about selling it to repay your debts?
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
dm00
Posted - 30 April 2008 : 17:47:06 there is approx £40000 EQUITY , and jointly owned property
Helpful Advice
Posted - 30 April 2008 : 09:42:58 Hi DM00,
Welcome to the forum,
Bankruptcy would free you of the debt and with no disposable income you would likely not be made to pay an income based contribution to your creditors.
The issue is your property what level of equity is in the property?
