My wife and I have been paying £350 pounds a month into a joint IVA for 18 months, and have to raise another £12000 in equity at the end of the 5 years. I am about to be offered between 25- 30 thousand voluntary redundancy. I intend to start a business as alternative employment. I would need a large...

I have a secured loan of £36000 and unsecured debts of £15000 and my wife has unsecured debts of £20000...is it possible for a joint IVA ? Also am I able to keep my bank account or do I have to have something else ? Also do I have to go to court at all to get an IVA ? and do I have to make any payme...

I have a loan of £36000 (secured) and £18000 on credit cards, I earn (take home) £250 per week...is there anyway I can alleviate this problem ? An IVA just seems like another £300 a month or so debt...and I dont want to lose my home ...any advice anyone ? (other than dont be so stupid in the future !)

If it is unsecured then the answer is yes. If secured then the creditor's rights are unaffected by IVA proceedings, and you will have to maintain the loan repayments to avoid your asset being repossessed. Regards, Melanie Giles, Insolvency Practitioner for over 20 years. For further details contact...

I have already taken out a loan of £36000 pounds over 20 odd years...would this be included in an IVA ?
regards Mark