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Posted: Mon Sep 19, 2005 5:37 pm
by flintshire
I currently owe £42,000 mortgage
£30,000 for second mortgage
Credit cards debts of £5,000
Can all this be included in an IVA?
Posted: Mon Sep 19, 2005 6:36 pm
by IVA News
Hi, You can include all your debts in an IVA except for the mortgage. This means that the only debt listed above that can be used in an IVA is the £5k credit card debt. However you need at least £15k for an IVA. Bankruptcy or informal repayment or loan consolidation are other options. Try our debt wizard at:
http://www.iva-info-uk.org.uk/iva_uk.asp to find the best solution for you.