would it be possible to offer the bank our car

[upurpipe]

my husband and I owe about £16k, both unemployed with only a car valued at £4k. we are living with family so have no home or any other assets. My parents live abroad and have offered us to join them. We cant possibly leave with debts and no means of repaying them. would it be possible to offer the bank our car or proceeds from it as a settlement?

[Adam Davies]

Hi
Why do you not consider bankruptcy.
This way you could tie up your financial affairs quickly and effectively.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[upurpipe]

we have thought about being bankrupt bur are unsure how it will effect our application for permanent residence in a new country. Do you think that the people that we owe to would take an offer ?

[Adam Davies]

Hi
It,s possible because in bankruptcy,because of fees,they would get very little.
You will have to convince them that you will go bankrupt if they do not accept your offer and that can be the difficult part.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Oliver]

You could possibly offer a lump sum to your creditors to pay off the money that you owe. Whether or not they would accept this offer is a different story.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp