Posted: Thu Jun 07, 2007 6:40 pm
I am in £80,000 unsecured debt. I have very little dmi, and £100,000 equity. How does this affect my property equity ?
Hi rbw
As you are not insolvent, due to the fact that your assets are higher than your liabilities, I suggest that you release some of the property equity and use that to repay your creditors. If you have no disposable income, then you may need to consdider selling the property.
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