www.iva.co.uk

During a messy divorce 12years ago I had a house repossed by a company I had a sercured loan with. The result was that my ex wife and I owed £14000. I belive that my ex agreed to pay half of this amount. Now I have just been told that the company that has aquired "my half of the debt" claim that i owe them £12000 and are threatening to force my second wife and I to sell the house we recently brought. Is this possible? Apart from this I also have £43000 of debt and a £237000 mortgage on an income of £32000 gross pa plus my wifes income of £22000. would you advise me to go for an IVA

Hi there and welcome to the forum

This creditor could only force a sale of your current property, if they were to gain some form of security over it by way of a charging order.

I suggest that you take advice directly from an insolvency practitioner who will identify all options that are presently available to you, to ensure that you receive a balanced opinion and are able to make the right choices.

Yes visit www.iva.com for a selection of IP's and reviews about how good or bad they are. You need to provide full details to an IP so that he/she can give you appropriate advice based upon your circumstances.It may well be that the original amount owing in respect of your old debt is statute barred!