www.iva.co.uk

I have the following scenario.
Mortgage £98k, second mortgage £40k
Property on market for £122k. Negative equity.
Personal unsecured loans £41k
Credit and store card debt £40k
Current monthly income net £2.6k
Never defaulted on repayment of loans etc.
Cannot afford to repay debt. Working in Birmingahm, living with Parents in Coventry, apartment is in Brighouse. Seperated from wife. Have two kids aswell. They live in Coventry.

Good morning Pjh,

Thank you for the post and welcome to the forum.

Having negative equity is not ideal but not a big problem.

Could you please tell us how much your monthly mortgage/secured loan payment is? I am hoping that it is not higher than £1040 (40% of your income).

Kind regards,



Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm

Do I understand that you are selling your house?

hara.