Hi Valf I know its hard but try not to worry. If you have no equity in your property it doesn’t necessary mean that you will lose your house, after all if you owe 100% of a 100% mortgage you don’t really own your home, your mortgage company does and the OR can’t take something from you that you don’...

Hi Les First of all, well done in coming here, whatever the route forward is for you, the good people on here will help you through it. First of all, is your partners business a Limited company? I'm also not sure on how the franchise company will see any of the routes forward that may be available t...

I totally agree with Melanie, sometimes the answer is staring you in the face but you just dont want to see it. A DMP would be an option while you considder selling your home or perhaps to wait for the mortgage market place to soften and look at geting get a further advance, you may then be able to ...

Ok, to make it a bit clearer for you. First of all, we, someone, cant really say what the appropriate way forward for you would be with only limited information, it may well be an IVA, at the moment it does seem better than a Bankruptcy, however it might be worth speaking to one of the experts one h...

Anxious, it might be worth you getting a couple of valuations in, with todays market place it may be worth less than you think.....just a thought!

Hi again Anxious First of all dont be ashamed its something that a lot of us here have been through and its nothing to feel ashamed of, not at all, its just life at the moment! The reason i asked was to see how much equity you have in your home, as it is you have over £16k. I was checking if Bankrup...

Hi Anxious

Can you tell us the current value of your property and how much you currently owe; could you also tell us how much the second mortgage is for?

Hi

You could contact your IP and ask for a payment break, they could give you one and put it on the back end of your IVA in other words extend your IVA for up to another 12 months. This would probably have to be agreed with your creds but at least it gives you a bit of time to sort things out[:)]

I'm sorry to here of your accident it must have been quite scary.

Just out of interest..........How's the dear??

Thank you again Ian for you quick response. Fist of all i am not advocating a debtor to sell their home, i know only to well the fear of losing your home and its not a nice prospect. The two cases that i mentioned above are in fact actual cases and both are being dealt with accordingly. As in any bu...

Hi Ian I take your point however; there are countless stories about the mis selling of IVA's that need to be looked at in greater detail. For instance a man and his wife are in an IVA for a total of £30K, they have been in it for over a year, however the couple had £80k of equity in the home!! Why w...

Hi Taffy First of all try to stop worrying, i know that its difficult but please try, i am an ex Bankrupt so i know about all of the feelings that you and your wife are going through. It would be a great help if you could list all of your incomings and outgoings that you have and also any assets tha...

Hi Viki, i stand corrected and my humble apologies to Ian.....its been a long day. lol

Hi ClaireW I'm afraid at the moment you are pretty stuffed for getting a new bank account as many banks will not be interested!! You can get a basic account from Barclays(if they wasn’t one of your creds)or you could try Thinkbanking who will give a current account to anyone, and with a debit card t...

Hello again I'm really sorry to throw a spanner in the works here, but Ian to quote, you state that...... "Bankruptcy is a very serious matter as you will lose control of all your assets and will be subject to bankruptcy restrictions, in certain circumstances for up to 15 years" Can you actually tel...