www.iva.co.uk

hi i have debts of nearly 30k one of whicg is secured on my house can i still apply for an iva thank you

Hi Davey and welcome to the forum

How much is the secured debt, and do you have equuity in your property to cover the amount borrowed?

Welcome from me too.

Can I suggest that you give an Insolvency Practitioner a ring? Visit www.iva.com for a list of reputable companies, or there are some who post on here who come highly recommended.

They will advise you as to all the options available to you and which would be the best way forward for your circumstances.

hi melanie,my secured debt is 12,500 at the moment i dont think i have enough equity in my home to pay it off.my wife and i have tried everything to get out of this mess but cant seem to see any light at the end of the tunnel.we have contacted the companies we owe but they dont seem very willing to help.we have offered to pay back any arrears at an amount we can afford but they charge us more each month for bieng in arrears.so at the moment my wife and i feel as if we are being pushed every turn we take its like we take one step forward and take two back.any help would be much appreciated thank you

So your other debts are £17,500 - if so an IVA is an option for you, as well as any unsecured shortfall from the secured debts.

Sometimes when you take professional advice, and your creditors become aware of this, you tend to be taken more seriously. So I suggest that you have a chat with an insolvency practitioner to discover what options are actually available to you - there is no commitment and it won't cost a penny to ask for advice!

I agree visit www.iva.com and select from a list of those who come highly recommended. Good luck and let us know how you get on.