Have you gone back to the people you bought it from to see if they can help?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
What attempts with any UK Agents that represent Bulgarian property sales?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
You may need to face taking a big hit on the value of that property, in order to try and settle with your creditors, but someone will buy it so long as the price is right.
From my experience, properties are still selling in Bulgaria, albeit a lot slower than they were a year ago, and the Russian domestic market is quite buoyant. If you could be prepared to take a hit, in an attempt to get debt free, these options may be definately worth pursuing.
Where is the property - is it in a ski resort or on the Black Sea, and what do you realistically value it at now? Can you provide a brief description of the property, and how much of your current debt can be attributed to its purchase?
at present we are using credit cards to buy our food shopping. We also took out a loan about 4 months ago. Will happen with these, ie is there a time limit on the debt that is included.
Please answer my original question - did you do any research with UK Agents?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
At present. We are all up to date with my bills, and we haven't missed any payments for a few months, as my mother has helped us out. I have been told that in order to qualify for an IVA, we have to have a history of missed payments. Is this true ?.
It would be a lie to say our income matches our outgoings pound for pound.
Food shopping + baby goods (nappies etc), clothes and fuel(petrol & Diesel) are becoming something of a luxury. We HAVE to buy these with credit cards as we dont have surplus cash. I understand that this is expanding the problem. This also contributes to the no-missed payment issue as, if we were buying food etc with our wages, we wouldn't have enough to pay the bills, however we are trying to be very strict and not miss payments.
I will check around to see if we have a list. You have to be insolvent to be able to propose an IVA. From what you have said you are - so get formal (free) advice from an IP asap. Will be back with Bulgarian list asap.
Last edited by David Mond on Thu Oct 30, 2008 10:52 pm, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Will have the information regarding Agents on Monday with a bit of luck>
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Hi, you don't have to have a history of missed payments to qualify for an IVA. Mine was accepted and I had never missed a payment until I started the IVA process.
It means that you offer a certain amount for every pound that you owe. eg you owe £100 and offer 10 p in the pound they get £10 from the iva back on the debt they owed.
