Posted: Mon Jul 02, 2007 5:06 pm
I own a park home worth £42000 Have debts of £35000 will I be made to sell our home
Hi silver
You are not insolvent, as your asset is worth more than your debts, so I feel that creditors may wish you to sell the property. Perhaps a DMP would be a better option for you, although you will continue to pay the debts until they are paid off in full.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk