the house is worth £250k less £80 owed to my sister, less their debts doesn't really leave them much of a retirement or a decent place to live.

Thx for the advice so far guys/gals much appreciated!! I will goto the CAB and see what we can do.

If an IVA is not possible, does anyone recommend something else or like the baines and ernst thing?

Hi Sarah,

i thought about doing that, but because the house was sold at less than market value, then it looks completely fishy and it says in order to go bankrupt then the house must not of been sold in the past x years for less than the going rate.

thx for the reply. they can't get a debt consolidation loan because they now have bad credit due to missing so many payments. They can't comfortably make the payments, i will be making the payments for them. They technically don't own the house right now as its mortgages is my sisters name. They are...

Hi All, Firstly what a great forum and it just goes to show when people help each other great things can be achieved. I'm worried about my parent's and wondered whether an IVA would help them. They are both retired and are 70yrs+ they have around £35k total debts (mum £25k and dad £15k) two years ag...