Page 1 of 1
Posted: Wed Feb 21, 2007 1:19 am
by tonya
we have debts of around £35k, no mortgage arrears or arreas on loans, cards etc and no defaults or CCJ's, the debt is just getting too much due to a reduced income, are we able to start an IVA on this basis?
Posted: Wed Feb 21, 2007 8:47 am
by Welsh Boy
Tonya
You mention your debts of 35k but you ststed no arrears on your mortgage, is there any scope to remortgage your property i.e. available equity? If so it could be simply a case of re structuring your existing finance. Whilst you are in a position of having no arrears on current commitments it would be a good time to investigate your options because if you get to the stage of having arrears , missed payments you may be making things more difficult than they need be for you. If this is not an option then you would need to take advice from a qualified IP with ref to IVA.