hi, i am a complete newbie to the idea of an iva,

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john12345
Posts: 2
by john12345 » Wed Jan 27, 2010 6:16 pm
hi, i am a complete nexbie to the idea of an iva, so i have a few questions first.
1. do i have to do it joint, with my wife, or seperatly, on my own?
2. i dont want to lose my home, is this possible, there is no equity.
3 where do i start. it looks like a minefield

 

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Tina Shortland
Posts: 2950
by Tina Shortland » Wed Jan 27, 2010 6:32 pm
Hi John - welcome to the forum.

To answer your questions:

1. You do not have to do an interlocking IVA with your wife but provision would need to be made in the household budget for her to pay her creditors. For many couples it works out better for them if all debts are included but it depends on your own personal situation.

2. You will not lose your home, don't worry about that.

3. It is best for you to call some companies to discuss your situation in more detail. You will be advised on what the options are and will be helped to make a ralisitc budget to hsow what you can actually afford to offer the creditors. Everything will be explained in detail so it will seem less of a minefield once you have a good chat!

You've taken the first step already by posting on here!

Regards,

 

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Shining
Posts: 27023
by Shining » Wed Jan 27, 2010 9:14 pm
Hi John and welcome to the forum, take a look at www.iva.com and there you will find a list of companies and some reviews. Give 2 or 3 a ring and get some free impartial advice specific to you. All the best and any more questions/advice needed you know where we are.

 

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kallis3
Forum Expert
Posts: 71966
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by kallis3 » Wed Jan 27, 2010 9:45 pm
Follow the link that Lesley posts and you won't go far wrong.
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