divorce, cancer, lost job, lost money on house..

[tide is high]

new to this - just getting my head out of sand, don't know what to do! (divorce, cancer, lost job, lost money on house...)
27000 in debt, IVA or bankruptcy my only hope. Q - I have a share in a house abroad, its on the market, if /when it sells i will have enough to clear my debts. i would lose this if i was bankrupt? is it any use to me in getting out of this mess?

[spenmotherhen]

Hi Welcome to the forum.

Im not clued up to much on bankruptcy but have been in an IVA for nearly 2 years now.

You have definately found the right place to have any questions answered for your this forum is great!!

Someone who can advise you more acurately will be along shortly.

Best of luck!!

[james.c]

i think either way you will loose the money from your house abroad.

Experts will be able to help you, if you can tell them who you owe money to and how much and what you earn as well.

no matter how bad money gets, theirs stll alot more important things in life

[MelanieGiles]

To avoid bankruptcy you could offer a lump sum based IVA on the basis that your property will sell over the next twelve months and then you could repay creditors in full, but to be honest the fees would probably negate the benefit. Why not speak to your creditors and tell them that you propose to sell the property and will pay them in full when this happens, if they will agree to freeze interest for say the next six months.

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

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp