My wife and I have recenlty ben made bankrupt on the 12th November 2007. The question is about the house. At the moment the market value of the house is around the 165k mark, our current mortgage is 118k,leaving equity of around 47k. I have seen lots of discussion on the forum regarding equity and w...

Thanks Melanie and Ray for your advice, I have contacted a local accountant and explained the situation regarding Tax etc, got a meeting with him tommorrow, still dont know how I'll pay him but may have to ask family to help us out on that one, Let you know how I get on!! I have read through possibl...

Hello everyone, need some help with the situation I now find myself in. Lots of questions, please help if you can!! Both my wife and I are currently filing for bankruptcy in our local court, the date has been set for the 12th November, 6 days to go. we recently ran a sucessfull business but due to a...

The sale of the buisiness includes both tangible assets and goodwill, although the buisiness is not trading at the moment due to the fire as previously mentioned. The income from the shop gave us a surplus income to pay the iva rather than to go to bankruptcy. Included in the iva was an equity relea...

Due to the sale of my buisiness my wife and I will have £25000 to put towards a full and final settlement of our iva. We believe this money would be treated as a windfall and would have to be put into the iva. Is this right?, also we are also considering selling our property to raise the extra funds...

I currently have an iva. The iva was directly set up in conjunction with our buisiness ie the more we earn then the more we pay. Unfotunately we have recently had a fire in our buisiness and it looks that we will not be paid out, therefore as the buisiness is now not operating we do not have any inc...