Me and my partner have debts between us of over £50.000 also we are behind on the morgage and have just had an overpayment request to pay back 10.000 to the inland revenue what happens to the over payment and the morgage arreas if I enter in to an iva I have sorted a payment deal out monthly with the morgage company to pay the arreas in 3 years but not sorted the other one yet .
The tax credit overpayment would be included within the IVA and HMRC would stop reclaiming any money from your current entitlement. The mortgage arrears would be allowed for within the income and expenditure but your payments would increase once cleared.
Your case sounds straightforward so get some free advice from an IP firm and discuss all the options open to you.
