www.iva.co.uk

I owe around 50K mainly to credit cards/banks. I was earning £60k annually and coping until made redundant at 54, unable to get a job I have a small pension and am starting a new business. I'm happy to sell my house and settle the debts and the mortgage but this is still not happened (after 6 months). Is an IVA an option? Do I go to the TV advert companies?

Hi kc

The choice of your IP is a personal one, and only you can make that decision. See my blog for tips on choosing and advisor.

How much equity do you have in your property at the moment, and what is your disposable income (before taking account of debt repayments). If you could pay all of your debts off in a six month period, I would not recommend an IVA.


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