My mortgage is on a repayment basis. I live with my wife, and she is named on both the mortgage and property.

I take it bankrupcy would mean the sale of my home anyway....

That is the thing I am fearing the most, losing my home. I know it is of my own doing, but I really want that as a last option....

How does that work ?

House value about £240,000. Mortgage outstanding about £200,000. Total debt is £49,200. Disposable income after paying all bills is about £150 a month (This was worked out with the help of the debt line).

Apparently, as there is some equity in my home, although not enough to cover the debts, an IVA wouldn't be a viable option, although I don't know if this is the case.

I recently joined the forum, having decided to face the fact that I need to get my debts sorted out. I have spoken to the national debt helpline and they advised on a debt management plan rather than an IVA. Can anyone advise on the good and bad points, and is there a time period for a debt manageme...