www.iva.co.uk

hi i have about sixty thousand pounds equity in my house at presant i owe about twenty seven thousand in debts can i join iva with the possible intention of a remortgage to pay off my debts in about six months time
if i join iva is there a risk of me losing my house at anytime for any reason
regards
amanda

Hi Amanda
You would not be able to propose an iva as you have enough equity in your home to remortgage and pay the debts in full. Wait for other answers though.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

Hi Amanda

It would be unwise to use an IVA to deal with your debts, and costly as you would have to pay the insolvency practitioners fees on top of the debts - which could add £4,000 to £6,000 to the amount required.

I suggest that you look into getting a remortgage over your property to release equity and pay off your creditors. You may even be able to offer them a reduced settlement for early payment, so contact a mortgage broker with experience of this sort of lending to see what options you have.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi amanda and welcome,

An IVA is not the best solution for your debt problems. You have enough equity to pay your creditors back so i would suggest you remortgage and pay off your creditors.

Regards,
Michelle P.

Hi Amanda,

For you there would be no point setting up an IVA, as you are not insolvent. I would suggest that you look into getting a remortgage to release the equity you do have in your property to then pay off your creditors in full.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

Just to add my two penneth, a remortgage does sound like the best idea based on the information you have posted.

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

An IVA is not suitable for you as you have more equity than unsecured debt. You could investigate the posibility of consolidating this debt within the equity you have amassed on the property.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

There are 2 mortgage brokers who post frequently on this forum, they go under the names of "mikebdomain" and "welshboy" both come highly recomended.