selling house

6 posts Page 1 of 1
Post Reply
 
 

ji ni

User avatar
Posts: 11
Joined: Mon Mar 31, 2008 5:38 pm
Location:
Post by ji ni » Tue Apr 01, 2008 12:29 am
Quote
we are currently starting process of iva, we are in process of trying to sell our home, we pay 1050 per month mortgage. if we obtain a rental at 600 do we have to pay more on our iva? or do payments stay as they are?
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Tue Apr 01, 2008 12:31 am
Quote
Hi there and welcome to the forum

Have you already got an IVA accepted or are you just in the process of exploring whether this is a sensible option for you?
Regards, Melanie Giles, Insolvency Practitioner
Top
 
 

ji ni

User avatar
Posts: 11
Joined: Mon Mar 31, 2008 5:38 pm
Location:
Post by ji ni » Tue Apr 01, 2008 12:34 am
Quote
have just started process with an iva company in belfast.
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Tue Apr 01, 2008 12:45 am
Quote
Why have they suggested that you need to sell your house? Has it become unaffordable, as I also have an office in Belfast and it is incredible how prices are tumbling in Northern Ireland.
Regards, Melanie Giles, Insolvency Practitioner
Top
 
 

ji ni

User avatar
Posts: 11
Joined: Mon Mar 31, 2008 5:38 pm
Location:
Post by ji ni » Tue Apr 01, 2008 12:54 am
Quote
they haven't suggested it.... we thought that it would be best to try and reduce our monthly commitments, though obviously would rather stay in our current home.... we have just started process with Grant Thornton in Belfast. Very helpful so far.
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Tue Apr 01, 2008 1:10 am
Quote
So if you were to stay in the property, how much disposable income would you have to offer to creditors, bearing in mind that if you sell and move into cheaper rented accomodation you will give all of that extra money to your creditors.

How much do you owe to creditors now?
Regards, Melanie Giles, Insolvency Practitioner
Top
Post Reply
6 posts Page 1 of 1
Return to “postings for april”