I have just spoken to Debt Free Direct who are looking to organise this for me and they have advised that until they get the paperwork back they can't advise me on this but will contact me for a thorough assessment when they receive all the documents required.

Hi Melanie I'm in the very early stages at the moment collating all the paperwork required. It was this particular element that put me off the IVA initially and I looked at a secured loan of 125% to consolidate but ofcourse the interest rate was extremely high (11.7%) which made the monthly payments...

Thanks Melanie

I have another question - would I be required to remortgage up to 100% equity after 4 years and would I be forced to do this with a high interest rate because of my credit history. I'm worried that this will just put me back to square one with not enough money to live on.

I'm about to enter into an IVA. My husband and I both work full time but have considered taking second jobs to improve our financial circumstances. This of course adds a lot of pressure when you have young children and it doesn't appear that doing this would better our position as any money earned f...