Thankyou everyone for your advice already I feel a little easier knowing we have shared this nightmare we will assesss our situation over the week end and most probably take direct advice from an expert.
Again many thanks
Have a good weekend xxx

Thanks for replies. 1] Alan the company hasn't stopped trading yet but will have to at end of August, debts fro the company would be about £5000 overdraft, £400.00 hp and around £5000 HMRC for personal and corporation tax . His company is basically an umbrella under which he freelances his services ...

Hi Melanie Yes my husband is an employee of the company, so as from 1st Sept he will no longer have work and therefore be unemployed. I work for a locally PCT so am employed , but as we have such debt we will literally go under within 1 month of no main income coming in, as so many we have enjoyed a...

hi, we have over £140,000 pound of unsecured debt, and need help in which way to go. My husband is about to lose his job and as we have a small limited company need guidance in that aspect too, his industry is construction say no more. Would we qualify for an iva or bankruptcy we are worried sick an...

Is it possible to write to my credit card companies and ask them to freeze the interest for a period of time to allow me to get to grips with the reduction of the balances?How would this affect me and can you give any advice as to what should be said in a letter?

we have about 150,000 of unsecured debt mainly loans and credit cards. Also 190,000 mortgage with probably only about 25,000 equity.We bring home about 5500 a month, and have outgoings of around 3500 which includes mortgage but excludes unsecured debts. Could we do an IVA and what are the consequenc...