www.iva.co.uk

I have unsecured debts of around £50k to 6 creditors, all bar one loan are in my name only.
Would the IVA be against me only or me and the wife?
How does the endowment plan I have get given up as I have read on a numeber of posts, if this is not running to form, can they only take it if there are additional sums beyopnd the mortgage repayment value?
Thanks
D

Hi there and welcome to the forum

It is difficult to advice specifically ona forum, when we don't have full details of your financial situation, and I would therefore advise that you consult an insolvency practitioner at the earliest oppurtunity. Your wife will probably not need a formal insolvency solution.

Unless the endowment is assigned to the mortgage company, you will probably have to offer your share to creditors under the terms of the IVA.

Thanks, think like most people I have been putting it off and kidding myself that things will get better, it wont and hasnt, the wife was made redundant the week before xmas and facing upto the issue now seems the only realistic thing to do.

You will feel a lot better when you have had a chat with somebody, and put your mind at rest as to the options which are available to you.

Hi,

There are a lot of experts on here who come highly recommended, and you can find their details under the experts link on the left hand side of the page.

Or you could visit www.iva.com where you will find reviews of companies.

They will go through all your options for you and advise as to the best way forward.

You, as advised, need to speak to an Insolvency Practitioner to discuss the various options that are available to you and possibly your wife. Visit www.iva.com and see reviews on several and I suggest you pick 2 or three to have a chat. Good luck and lets us know how you get on.

Thanks, I am looking at the people on the site tonight and starting to collate what debt I have exactly
Regards

You will feel much better once you have spoken to someone about this Lilden, and it is a good idea to be prepared for that discussion with having a list of your creditor balances to hand and an idea of your income and expenditure.