Thanks for the reply Melanie, The basis of the equity I believe was with the IP not taking in to consideration our estate agents valuation, which we included with all of our correspondance. I'm not sure it's pertanant, to name the IP at this stage as they are active on this forum. Is it worth changi...

Hi Melanie, We were offering 38 x £350 and then 22 x £550, this was after HP was completed on a car. The total debt was £96k of which £40k was to northern rock. IP fees, sorry can't remember. Current equity in our property is £50k confirmed by estate agents. Thanks in advance Finally...yes we were o...

Yes we own our property, but obviously we'd really like to keep it.... is this an option with going bankrupt?

Regards

My wife and I had the news today that our IVA proposal had failed in the creditors meeting. This was due to Northern Rock apparently adopting a "no IVA" status, even though our IP thought that with us offering 48p in the pound we stood a very good chance on acceptance! We're now really worried about...