Thanks guys. I am a car salesman, basic 18.5k, comission of around 1500 per month on a good month. Trouble is as with any sales trades can change; I am lucky I have good job security and a big basic. When you say 'give the house back' is this possible? Plus what about the 2nd charge on the house wit...

Thats' a good point; the loan was for 5k, have made two payments so far. Presumabally tho the settlement at this point won't be 5k will it? Closer to 8k incuding interest???

Hi Guys Have been quietly reading the posts and now time to post myself! I am in the process of looking at an IVA - I think its time to bite the bullet and get things sorted. My debt is as follows: Northern Rock Mortgage 100k Northern rock unsecured loan 18k Picture Secured loan £15k Barclaycard £9k...