www.iva.co.uk

Recently had our home repossessed. Luckily we were able to find private landlord who we now rent from. We have numerous debts and not sure what direction to go and who to ask for genuine advise. Debts in region of £55,000 with the repossession of our home. Can you help please!

Hi, there are some fantastic people on here who can help you , i just wanted to let you know you are in the right place to see you are not alone

Welcome Carron. Are you looking to an IVA?

Hi and welcome.

If you are unsure of which solution to choose then you need to speak to a professional.

Visit www.iva.com for a list of companies and reviews and give one or two a ring for some free advice and they will go through everything with you.

Hello and welcome. Follow the link that Niobe has given and have a chat with one or two of the companies listed. The advice is free at this stage and without obligation.

The preferred solution will depend upon, amongst other things, the level of disposable income you will be able to offer, the firms mentioned can arrive at this figure with you.

That level of debt will usually preclude a debt management plan, unless you have a high DI. So you could be looking at the choice between an IVA and bankruptcy (as you no longer have assets -- the house-- to protect, and as long as your employment doesn't preclude this, BR is still an option).

Chat to a couple of companies to compare advice and to see who you gel with. Also have a look around the forum where you can glean from our ramblings what we feel about our own choices

Hi

I think you need to consider bankruptcy or an IVA, speak with several experts/companies and explore your options

Regards

Welcome...great advice from Niobe, Foggy and Andy .....we are here to support ...just keep asking your questions !

I am dealing with a lot of IVA applications where people have significant debts due to property repossessions. This is just another debt at the end of the day, but if you cannot repay it then it may be time to seek some professional advice. Advice is usually provided completely free of charge, and you may be suprised at the options there are out there for you - so I would recommend a chat with an insolvency practitioner as a good place to start.

There you go Carron, there is lots of help for you, good luck, remember we are here to support and let us know how you got on