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I have a couple of CCJ's and bad credit history. My main creditor is HM Revenue and customs. I have tried to obtain a further advance on my joint mortgage but cannot because of the problems above. If I were to enter into an IVA how would this effect my current mortgage and what can my creditors do in regards to my property if I cannot raise any money against it.

Hi nnfamily and welcome to the forum

An IVA will not affect your mortgage company, as they are secured against your property, but do check the terms of your mortgage agreement to make sure that there are no termination clauses which kick in upon the advent of insolvency.

If you cannto raise any equity against your property, creditors will generally leave it alone within the IVA, but how would you be funding your offer to creditors? I assume that you are self-employed so is your business generating profits which could be used to fund ongoing contributions to creditors.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

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http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp