Yep,

Have a goon one! Don't spend too much! LOL!

Mine was 32p to the £ and that went through all ok, don't see why 40p shouldn't but then again, i suppose it depends on circumstances?

I'm no expert by the way!

The only bits of advice i could give mate is, consider ALL your options well, whether an IVA, Bankruptcy or a Debt Management Plan. And make sure you choose your Insolvency Practictioner well (there are a few on here who are highly respected and won't rip you off), research them, and do not agree to...

Thanks for that Andy!

Flaming forms! Lol!

Is it not that alot of IP's ( and not all Melanie!) are a little bit on the greedy side, push people to commit to something they can't afford i.e. unrealistic payments and because people and frightened of creditors they see a glimmer of light and rush for it without knowing the full details? I do th...

Just filling the forms in and got to Section 10 which asks about Dependants, do I class the Mrs as a Dependant as she earns very little at the moment (on maternity till Jan) and after that she will be fully Dependant on me, won't she????

Confused!

That's good to know skippy, i thought it had to be done there and then.

Gonna ring my IP and let him know what we're up to and fingers crossed.

I'd like to thank everyone for their help so far, I'm sure I'll have some more questions, and hopefully the experience won't be too scary!

Righto, Thanks everyone. We've made the decision now that BR is the best option, and b***** it if they do take the house! Anyone know where I can download the forms and print them out to fill in , don't really wanna get confused by doing it online, and we might not have the money for a few months an...

I'm not sure it can Andy, to be honest the IP would have to put a figure forward of about £100 for it to be workable, even then things are going to be tight because the other half's given up work to look after our 5 month old (couldn't realistically afford for her to go back!) IP is trying to get us...

Do you not have a clause that states that you can't full and final settle in the first 2 years?

i know each IVA is different but I thought that was fairly standard?

Also, if we were to try and re mortgage to get a better deal, would any arrangement fees and penalties go on to the existing mortgage and therefore reduce the equity? Is that worth thinking about? Just trying to think of ways to lower the small amount of equity we have really, whilst still affording...

Thanks Andy, although it would be both of us going BR, the house is jointly owned by us both, i know that we just couldn't find 7.5k, if thats what they valued it at. Surely any estate agent, if they knew they were working for the OR would value it higher as they know they mat get a sale from it? Or...

Seriously thinking about going BR now, phoned my IP who is trying to do something with my IVA but I still don't think I'm going to be able to survive so it looks like BR is the only real option. This has probably been asked a million times but I'm not too savvy and don't fully understand everything....

Surely a loan company won't touch us? We have around 20k equity in the house, that's we owe 130k on it, and the value is around 150k, the Iva states that the estimated pence per pound is 32p, with at least 5p per pound being distibuted to creditors? i think i got that right anyway, although the IVA ...

Hi Melanie, Thanks for your reply, I was hoping I'd get a response from you as the other advice you have given people has been sound advice. Do you think that if i were to write to my IP with a income and expenditure form that they would allow me to sell and release equity to pay creditors with? It ...