Going through divorce and trying to keep my head from going under!
I have spoken with IP but could you advise as to when I cancel my standing orders etc?
I have a flat with a tenant which I am intending to sell as its in negative equity and a significant burden on my purse. I firstly need to get my tenant out before sale, this could take months in current climate.
Do I just walk into Northern Rock and give them the keys and the whole problem?
Some IP's recommend that you cancel now, some will recommend token payments. It is totally down to you what you feel most comfortable with but it will make no difference to the outcome.
You can hand the keys back but be guided by advice from your IP.
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
I assume that you are in the process of proposing an IVA? If so, you should be concentrating on working out an affordable monthly budget to stick to which will then direct how much you can afford to pay into the IVA on a monthly basis.
If you are intent on handing back the investment property to the mortgagee, the shortfall can be estimated and included into the IVA as a creditor.
nowt to do with thread, but wanna say that mel, please update your avatar! you are much more attractive in real life.....xxxx (sorry for the hi jack everyone but if you had met mel on sat at ff, you would know what i mean....) xx
Bless you Paul! Hope you'll be coming for the Christmas do!
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
