Posted: Sun Apr 08, 2007 11:40 am
I have a secured loan on my house,but i still owe 35grand in unsecured loans ets,can i get an iva or is bankruptcy a better option?
Hi jd and a Happy Easter!
That depends upon the level of equity you have remaining, the amount of your disposable income (before any unsecured debt repayments) and the strength of your desire to see creditors repaid. Can you confirm the first two issues, and then I can advise further.
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