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Posted: Wed Sep 24, 2008 5:51 pm
by sarah_np
I have credit cards dedt of £30K, but i have 2 houses that i rent out would i loose my houses, would it damage my credit score.
Posted: Wed Sep 24, 2008 6:55 pm
by plasticdaft
If you mean by entering an iva would you lose you houses,it would depend on the amount of equity in them.
Your credit score will be damaged for 6 years from the date your iva is approved.
Posted: Wed Sep 24, 2008 7:04 pm
by chardonnay
Hi and welcome,
You don't mention whether or not you can cope with you debt and repay the amounts you owe!! Until you establish that the other questions are not really relevant!!
C
Posted: Wed Sep 24, 2008 7:51 pm
by Viki.W
Hey sarah, welcome to the forum. You're in the right place here for some good advice and support. Please feel free to post a few more details of your situation so we can help. X
Posted: Wed Sep 24, 2008 8:29 pm
by Adam Davies
Hi
If the two houses net you an income,or break even,then you may be able to keep them in an IVA.
An IVA will affect your credit rating for at least 6 years
Regards