the debt is just getting too much

2 posts Page 1 of 1
Post Reply
 
 

tonya

User avatar
Posts: 1
Joined: Wed Feb 21, 2007 1:17 am
Location:
Post by tonya » Wed Feb 21, 2007 1:19 am
Quote
we have debts of around £35k, no mortgage arrears or arreas on loans, cards etc and no defaults or CCJ's, the debt is just getting too much due to a reduced income, are we able to start an IVA on this basis?
Top
 
 

Welsh Boy

User avatar
Posts: 360
Joined: Thu Feb 01, 2007 9:02 pm
Location: United Kingdom
Post by Welsh Boy » Wed Feb 21, 2007 8:47 am
Quote
Tonya

You mention your debts of 35k but you ststed no arrears on your mortgage, is there any scope to remortgage your property i.e. available equity? If so it could be simply a case of re structuring your existing finance. Whilst you are in a position of having no arrears on current commitments it would be a good time to investigate your options because if you get to the stage of having arrears , missed payments you may be making things more difficult than they need be for you. If this is not an option then you would need to take advice from a qualified IP with ref to IVA.
F.P.C. 1,2,3 Qualified
Financial Planning Certificate
CeMap Qualified
Whole of Market Mortgage Broker
Managing Director : Debt Advisory Bureau
Debt Advisory 4U
Principal : All Mortgage Products

Directly Authorised with FSA :304244
Top
Post Reply
2 posts Page 1 of 1
Return to “IVA postbag for february”