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Posted: Fri Mar 13, 2009 9:03 pm
by Brokendenton
Hi have no money left in the house at all, mortgauge interest only £640--------IVA £440 -------Income £1800 Wife 2 Kids-
Any advice what to do really hard to cope with this
Posted: Fri Mar 13, 2009 9:56 pm
by kallis3
If you are struggling with paying your IVA as well as your other bills, I would suggest that you speak to your IP to see if you can get your payments reduced to a more realistic level.
Otherwise, if you are in negative equity with the house and can't cope, bankruptcy is another option, but speak to your IP first.
Posted: Sat Mar 14, 2009 4:55 pm
by David Mond
Talk to your IP - is renting an option at a lower rate than what your mortgage is? Is your mortgage a repayment one? If so try and change it to an interest one. In any event have a chat with your IP asap.
Posted: Sun Mar 15, 2009 12:35 pm
by plasticdaft
Surely if a house is in negative equity it would be unwise to just hand back the keys go BR and rent when in BR you are unlikely to lose the house(if its in negative equity). Why throw away money you have invested?