You need to speak to one or two companies for some advice. Vincent Bond/Andy Davie (details under the 'Ask experts a question link on the left hand side of the page) can be contacted for some free advice and hopefully a way forward.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
With that much equity you do need to look at ways to solve your debt problems whilst protecting your home, which an IVA would do. However, the IVA, or an alternative solution, will depend upon so many other factors.
You need to speak to a few firms to compare advice and to see which firm you feel comfortable with.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi
Hope i can shed a little light on what my situation was.
Owed 41k debts. Was paying out 1100 per month in loans / cards etc. Went into Iva and agreed to pay 430 per month. After 5 yrs had to try to remortgage but was refused due to the Iva. Had to pay extra 12 months. Finished march this year. Completion certificate came May.
The amount you agree to pay all depends on your salary and all spare money after outgoings. Best thing i ever did. Used Grant Thornton which is now called Aperture
