Friend IVA ?

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floridaholiday

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Post by floridaholiday » Mon Jan 31, 2011 4:25 pm
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Hi,
I have been talking to my friend today to try and offer her some advice. She is £50.000 in debt, but has £150.000 equity in her house. She is living on credit cards for her shopping and petrol. I suggested an IVA but bit unsure about the equity. I rent so I do not know this side of things. As far as I am aware you have to re-mortgage in year four or five. But she only has seven years left on her mortgage, at which time her husband will be 66 years old and retired.If she was to re-mortgage then she will not be able to afford payments on only her salary. Any help suggestions please.
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kallis3

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Post by kallis3 » Mon Jan 31, 2011 7:08 pm
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Hi,

Not sure what the position would be with this as there is so much equity. I'd get her to phone one of the experts on here or wait and see if one of them comes back on this post.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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