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Thanks for your previous advice, much appreciated.

I have one more question, my basic take home pay is £1600, but there is sometimes the possibility of working overtime and Sundays although this overtime isn't guaranteed. If I did work overtime would I be expected to pay more per month? Also, i have a self certified interest only mortgage which i'm tied into until next january. The interest rate on my mortgage is very high and I hope to switch it, but if I had an iva in place would I be able to get a "normal" mortgage or would I be stuck with a high interest "adverse credit" mortgage?

Many thanks.

Hi again

That will depend upon the terms of yoir IVA proposal, but expect to pay 50% of the net proceeds after usual deductions.

You will not get a "normal" mortgage whilst in an IVA, but there are some very competitive rates out there at the moment for people such as yourself. The broker I use is working on an APR of 6.09% at the moment.

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