www.iva.co.uk

Hi
I am currently self employed and have had an iva before which i completed ok.
Due to various reasons and a change in job and also having to remortgage back onto a repayment mortgage which costs a lot more.
I have had to get a car for work but i am having problems with unsecured debt of around 40k.
My income and pension amount to around £2350 with a repayment mortgage of around £1050.
Could i keep the repayment mortgage or not.
What would be my best options please.
My wife also works and gets around £750 per month and the mortgage is in joint names.

Hi and welcome, im no expert and hopefully some one will be able to advise you.

All i can suggest is you try and speak to someone who can give you good Debt advice and outline all your options.

There are some good experts on here and some good websites, some will call you personnally which i found really helpful and no one judges you.

Good luck

Hi DAS. I would suggest you have a chat with a few firms to see what your options are. On the face of it another IVA might be viable, but, as you know, will depend upon the whole set of circumstances.

If you are now self employed there may be liabilities to HMRC. If these debts are substantial there could be a problem as HMRC do not like second IVAs especially if there is not much of a gap between them.

If there is equity HMRC may also ask for the property to be sold as a condition of acceptance so get some advice and see what your options are.