I guess so....but only if you fail to make your mortgage payments.

Basically that's right. Halfway through year 4 you will be asked to re mortgage or take out a secure loan (depending on your IVA terms) Usually you will be asked to borrow upto 85% of the property value and your mortgage repayments should only increase by 50% of your IVA payment amount. You probably...

Do you have a portable mortgage? The mortgage company might not allow it as your in an IVA but you could ask for a variation to allow you to sell the house on the grounds if you don't you will be forced to go bankrupt. You could ask the mortgage company to port the mortgage paying off x amount with ...

If the cheque has both names on it, then you should be able to pay it into any account that has either name on it. It doesn't have to be a Joint account.
You may be able to get a joint account but I personally wouldn't.

Thanks Michael and please pass on my thanks to the team

Yipeee!
I have just found out my IVA has been approved

A big thanks to all the guys at McCambridge Duffy for all their help.

Here's to a long 5/6 years but finally a light at the end of the tunnel!

Thanks Guys. I have no issue with re mortgaging in 5 years time if it's possible (As long as the repayments are fair, which seems a standard rule) I would have liked to re mortgaged and tried a F&F IVA but just can't borrow anything (I've just e-mailed Ryan & Shaun) Basically my position is.....I'll...

Hi Lisa,
Thanks for that. I don't have a proposal yet (I'm currently collecting all the required documentation together) So I was just curious (And concerned)

Hi Guys, I keep seeing info (All over the internet) About bankruptcy being expensive and creditors not getting much back. I know roughly what the fees are for an IVA but I can't see much about bankruptcy (Other than the fees to be made bankrupt) So....Why is it that bankruptcy appears to offer such ...

Thanks lifenoteasy,
Can't hurt to try!

Thanks Michael, That's good to hear

Hi lifenoteasy,

Unfortunately I've tried to re mortgage and to get a secure loan and have been turned down for both

That would have been my preferred option and would probably have paid back more!

Hi Guys, Been reading lots of info on here and have just started the process of going into an IVA with one of the companies recommended on here. It will be an interlocking IVA and I'm rather worried about it to be honest due to the low payments vs high debt :( i.e. £150 per month. I've been told it'...