I'm getting debtors keep contacting me

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kallis3
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by kallis3 » Fri Sep 29, 2017 2:01 pm
I think that is awful - definitely speak to someone else! We had loads of equity in our house and no problems with getting an IVA.
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Michael Peoples
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by Michael Peoples » Fri Sep 29, 2017 2:52 pm
Your first post said you did not want to lose your home and business so I assumed this meant you were self employed. However even if you are not an IVA may be possible if you equity but it depends on how much and which creditors you have. If there is sufficient equity in the property to repay the debts in full by way of a secured loan then this may be an option available but it could also be expensive. If the creditors have all frozen interest then perhaps a DMP would be more appropriate as it makes little sense to borrow money at high interest to pay debts incurring none at all.
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leslie567
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by leslie567 » Fri Sep 29, 2017 5:37 pm
Foggy wrote:
leslie567 wrote:
leslie567 wrote:
I was with debt free direct..and had further monetary problems...they put my account on hold when I was able to start making payments I was told that it was now to late to continue..since then I have gone over to swift..it seams to be taking months for them to sort any thing out..I'm getting debtors keep contacting me, I can't give any answers because I'm not really getting much feed back from the Iva..really don't want to go bankrupt as do not want to loose my home and business please can you give me some advice on where I stand and what to do


We are not self employed..had a phone call from swift to say that as there is equity in my property I would be unable to get an Iva from any one..only option would be secured loan



How much equity do you have in the property ?

I would still be inclined to have a chat with other firms -- if it was that "cut and dried" Swift could have told you that right away !

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kallis3
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by kallis3 » Fri Sep 29, 2017 5:44 pm
We had way more than that.
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