www.iva.co.uk

My husband has been in his IVA for 2 years. We have asked for this to be reduced, but my husband isnt earning as much as he used to. We are behind with payments on other bills just to make sure we have enough money for the IVA. The main creditor is the Tax/Vat office and i'm not sure they'll accept the IVA being reduced. If my husband goes bankrupt, will we definately lose our house? I know this would be the easy option, but I dont want to lose my house (we've got 2 kids to think of too). Am I right in thinking that I can pay half of the dividend? I'm so confused by it all, but I just want the best for my family. My husband works hard, but he feels as if its for nothing. Help please!

Hi,

You really do need to speak to your IP about this, I am sure they can arrange a lower payment for you, they can usually arrange a 15% reduction without asking the creditors.

As regards bankruptcy, if you have no equity in your house, then you can probably keep it.

This is a duplicate post. I already answered this a little while ago

I thought I was going mad when I looked at the other one and wondered where my post had gone!

Sorry for the duplicate post! We'll wait and see what they come back with. Thank you.