Hi Melanie, Probably £15k to £16k.

Thanks Melanie, taking off IP fees I probably have £19k left to pay what do you think would be a good starting offer?

Thanks for the link peppermint.

Ok, it never rains it pours!!! I have just found out I am likely to be made redundant at the end of the month with no redundancy pay (the company is folding). My parents are still in the position to lend some money to offer a full and final settlement. With my circumstances would I be able to offer ...

Thanks, no they didn't know.

Hi, I am in the fortunate position that my parents have offered to lend me money to settle my IVA. I have just completed my first year paying £460 per month. Would it be best to offer the full remaining amount? Also, I had to complete a RX1 form, what would happen to this if the IVA is settled. Many...

Hi Michael, so going bankrupt wouldn't release the charge on the property?

Thanks for the response again. Selling the house isn't an option really. I would sooner go down the bankruptcy route and buy the house back from the receiver.

Thanks again

Thanks for the reply Michael.

The bank are after £250 pm for the next 10 years. 15% reduction of my IVA would be £66.35. Do you think the bank would accept this from me due to my situation and chase my ex business partner for the rest or pass on the debt?

Thanks Sam

It was agreed when the funds were borrowed at the time I only had £5k equity and the amount borrowed was £25k.

Sorry, just checking my last post worked!

It was agreed when the funds were borrowed at the time I only had £5k equity and the amount borrowed was £25k.

Hi, Thanks for the quick replies. The bank has put a charge on both properties. Would this cause problems?

Thanks

Hi, I have recently entered an IVA. I also have a previous business debt (made IP aware of this prior to IVA) which is guaranteed by my ex business partner and myself (joint and several). The bank are now chasing this debt. I am in a negitvie equity situation and have no spare income to pay this deb...