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my house is 50% shared ownership and we paid £87,500 and just had it valued for £97,500 by an estate agent. if we sold it it would need to be valued by a chartered surveyor.
we also pay rent of £350.

we are in arrears with our mortgage by £2,700 and it has been to court to get the warrant if it needs repossessing so far for the past 6 months we have paid our mortgage with £50 extra per month to cover the debt. our rent is also in arrears and again we pay £80 on top to cover arrears but if it falls behind they said they will approach the mortgage company and issue the warrant for repossession.

my husband has £35k debts i have £16k. alot of mine are small catalogue ones for no more than £300 lowest 2 being around £150 -£181. the 3 biggest ones are £7,500 for a HP car which i no longer own as i surrendered it and another HP car for £3,500 which got repossessed.

i have 2 ccj's and would like to know how they affect a IVA, can they be included?

we get £1,900 per month and £1,450 approx is paid out on everything excluding the debts.

as i have explained in previous posts we want to sell the house and private rent and pay off the debts with any money we have left over.

i just dont know what is the best thing to do.

if u need me to answer any questions just ask!

Hi Louisa

Sorry it has taken so long for one of us to answer your post.

Assuming that you are looking to put together a "joint" IVA, you say that you have disposable income of £450 per month - although this may change once you enter rented accomodation, I assume? Could you also confirm whether you have any equity in your property?

With more information I am sure that one of us will be able to advise you of your options - but only you can decide on what is the best for you to do.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk