Between my husband and I we owe approx. £90k - we bring in £1900 per month and our mortgage is £770. We will have some equity in our house in 4/5 years but have been advised before that we would not qualify as not enough money coming in and should look at going bankrupt (a bit drastic) or Debt Management (which we would be in for approx. 40 years so no light at the end of the tunnel!).
Has someone been in this situation? What monthly payment roughly would we be looking at?
Your monthly payment would be based on your disposable income after all your normal monthly household expenses have been paid.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Have a chat with an IP and visit www.iva.com and select from the reviews there one or two to speak to for the free appropriate advice that will be given.
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.
Frank, I have deleted your other thread as it was a duplicate of this one.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
