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Posted: Thu Jul 10, 2008 9:05 pm
by chezzy
In a bit of a quandry. We cant do a IVA because of equity in house, so are looking at a DMP,selling the house will only repay about £35,000 of our £58,000 debt, Do you think our creditors will settle for less,or will we still have to carry on paying into the DMP? Should we sell or keep paying into the dmp untill hopefully house prices improve, if ever!
Posted: Thu Jul 10, 2008 9:15 pm
by Lisa2009
Who told you that an IVA is not suitable?
Posted: Thu Jul 10, 2008 9:18 pm
by chezzy
we spoke to melanie,who was great but were told that because we had equity in the house we would probably not be accepted.
Posted: Thu Jul 10, 2008 10:02 pm
by kallis3
We have about £40,000 equity in our house and got an IVA (we do have £83,000 of debt, a bit more than Chezzy - don't know if this makes a difference.)
Posted: Thu Jul 10, 2008 10:04 pm
by Soulgrowth
I don't understand this either!
Debbie
Posted: Thu Jul 10, 2008 10:06 pm
by indebtforever
i would have thought this would be a bonus!!are your debts unsecured?
Posted: Thu Jul 10, 2008 10:08 pm
by Lisa2009
I have to admit, its confused me.
Posted: Thu Jul 10, 2008 11:08 pm
by MelanieGiles
Chezzy
It would be inappropriate for me to discuss aspects of your case in a public forum, but could you call me in the office tomorrow to discuss this again please.
Posted: Fri Jul 11, 2008 9:01 am
by Soulgrowth
Well said and addressed Melanie ... and an example of a professional response ... which I felt I nedded to comment on after recent other threads.
Debbie