Hi, Been running round and round trying to understand the best route. I have swing from 5 year IVAs, to F&F IVAs, to today writing to all my creditors to accept 73p in pound as F&F against 55K of debt. House is in my wifes name as she bought out my beneficial interest in the house 2 years ago to all...

Are they looking to see if is best to ignore the offer and take payments, or take the offer and then still take payments (which is how I read the message!!)

Been on a DMP for 2 years, so hoping they are open to offers if they realise I am a non-home owner (am I right to mention this?).

Thanks

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..and is it normal for them to ask for an Income / Expediture?

Hi, Thanks. We have made a definite decision to avoid an IVA, and also to avoid borrowing against the house unless we have to. I am sure we have put too much detail in the offer. I have stated that I am not a home owner because my wife bought my beneficial interest so I caould pay my creditors 2 yea...

Hi, I rang them today to see if any were receptive, I have 6 lenders and 7 debts. MBNA & Egg were receptive, Halifax, Sainsburys and Natwest Visa werent. I know Natwest current account will be receptive as they recently accepted 4K out of 6K. The only problem is Egg want me to do an Income Expenditu...

Hi, I am in the process of pulling together 45K. 20K from family and 25K from a secured loan to make a full and final IVA offer. I owe 55K so its a good offer and I dont want to enter a 5 year scheme. I was wondering, rather than ruining my credit history, is it possible to pay an Insolvency Practic...

Hi,

So is the release of shared equity a barrier to approval, if we state it as a shared release?

Hi, This would mean I would have to try and remortgage for 95-100% of the value of the house in 5 years time which seems impractical. Is there any way of getting the IVA through with the release of equity being shared. Are we best leaving it a year (is time a healer?) and trying to renegogiate a DMP...

Hi, Due to a (past) gambling problem, I have debts of around 56k. I hada shared mortgage with my wife, house valued at 210k and mortgage balance of 146k. Debts are unsecured and are in my name. Was in a DMP with Payplan for 18 months but then lenders took me off the arrangement. Anyway, due to the m...