Mel we have an idea that we would like to run past you. Maybe clutching at straws but......

H and myself are going to run some figures and mail you.

Can I get a ballpark figure on an interest only mortgage for 195k ? Monthly payment ?

I need a new calculator.

Another last general IVA question. What if I start an IVA then i get a 5k bonus, will it just be taken or have I done the deal at the agreed figure?

Ok, this is sounding better. And your right of course, should be 60 months. I would be more than happy with £350 pcm and a release of 20k in year four. But are they likely to accept that?

Last question, who are the best Companies to deal with / apply for the IVA with ? Time to make the call !

Just some some sums and ended up with this;

25p in the £1 on 76k = £12,160
£12,160 + est fees of £8,000 = £20,160
£20,160 / 48 months = £420 pcm

We can do £420 pcm I'm sure. My Wife will get a job at some point but until them will get seekers allowance.

Are these figures in the ball park ?

Thanks

Looks bleak dosen't it. I cannot get a remortgage as my earnings will not be anough to meet the outstanding balance, as I understand it. 4 x 35k and I already have 160k outstanding. My wifes income of £340 will be replaced by a job seeker allowance, what ever that is these days, so we are not as low...

Forgot, My Wife gets a £340 payment per month invalidity. But that will probubly stop soon and she will be signed fir for work.

Income £2166.93
Bills, inc mortgage £1873.83
CC's £2088.81
All above PCM
Total debt on CC's £76000
Mortgage £160000
Property value £210000 est

Thanks Guy's

I'm not even sure I will qualify for an IVA, plan to make the phone call next week. I need to get all the facts and figures first, and deal the emotional side over the weekend. What concerns me most is that during the five years all of the equity will be taken from the house. Circa 50k as we stand t...

I'm not even sure I will qualify for an IVA, plan to make the phone call next week. I need to get all the facts and figures first, and deal the emotional side over the weekend. What concerns me most is that during the five years all of the equity will be taken from the house. Circa 50k as we stand t...

I am a homeowner with about 50k left in the value of the house. I am up to 76k on CC's and have been useing them to pay off the monthloy bills. I earn 35 k, my wife does not work. We are about to try the IVA route. My Question: Should we pay the monthly bills now as we have been via the remaining ba...