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will i loose my house? it has my morgage is for £120000 n i have a secured loan on it for £20000. just had it valued at £100000. have various credit cards n other loans ect am behind by month on pretty much everything. if i have a iva will i be a able to keep the house if recducing all other outgoings means that i can afford the morgage?

Hi and welcome.

If you were to do a IVA, then you would not lose your house, but you would be expected to release some equity (if there were any) in the 4th year.

You need expert free advice. Visit www.iva.com for reviews on practitioners that can help you. There will be a solution so don't worry pick up the phone and talk to an expert soon. Good luck.

An IVA may be possible for you, if you can see your way to covering your mortgage and secured loan payments, usual household and personal bills and a contribution to your creditors. If you can do this, you will not lose your house, but may have to raise equity against it during the final year, subject to current criteria.