www.iva.co.uk

Thank you for your helful website
I believe my ex son-in-law will not give a correct account of his finances. My daughter is joint mortgagee and I should like to help her.

Does your daughter have debts in her own name?

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hello Pwmdy and welcome to the forum.

I am sorry but I do not quite understand your query. Please post some more specific details so that we will be able to give you some advice?



Best Regards
Oliver

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

Good morning pwmdy,

Welcome to the forum.


I understand that you are trying to help your daughter but could you please tell us about your daughter's situation? I understand that she has a joint mortgage with her ex husband but do they also have joint debt?



Kind regards,

Julia Simavi

Shortlisted for Best UK Debt consultant by Credit Show 2007

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

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

My daughter has credit card debts of £11,000. Joint mortgage of £450,000. House valued £650,000. Husband debt of £30,000 or more.

Hi again

Well your daughter is certainly not insolvent, with equity at the level she currently has. I suggest you help her to write to all of her creditors to explain her current predicament, as I assume that she and her husband are going through matrimonial difficulties. Their best bet would be to remortgage to the extent that they need to repay their unsecured debts.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hello pwmdy,

I agree with Melanie on this. The best way to solve this problem seems like to release equity.

In the meantime, she could offer her creditors a token payment by sending a letter similar to this;


Dear Sir/Madam

Re:- Account/Reference Number

Since making that above agreement with you, my circumstances have changed.
I cannot now afford to agreed monthly payments because ……………

I enclose a Personal Budget sheet which shows my total income from all sources, and the total outgoings of my household. As you can see I have no money left to make offers of payment to my creditors.

In view of my circumstances, would you please accept a token offer of £1.00 per month to be reviewed in six months?

If interest or other charges are being added to the account, I would be grateful if you would freeze these so my debt does not increase.

Should my circumstances improve I will contact you again.

I would be grateful if you would send a standing order form to make it easier to pay you.
Thank you for your assistance. I look forward to hearing from you as soon as possible.

Yours faithfully

Regards,

Julia Simavi

Shortlisted for Best UK Debt consultant by Credit Show 2007

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

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