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Posted: Mon Jan 28, 2008 10:19 am
by susan.b
i owe £10000 on a creditcard, my ex partner is wanting to take me to court saying i owe him £20000, I currently owe the solicitor handling the case £1800 and have a further payment to her, I can not afford to go to court and have tried to resolve my issue outside of this but to no avail, if I am taken to court and unable to pay all of the above at what stage can I enter an IVA please
Posted: Mon Jan 28, 2008 11:15 am
by MelanieGiles
Hi susan and welcome to the forum
If these are your only two creditors, then an IVA is not going to be an option for you, and in any case this would need your ex-partner's consent if he were to win his case. What is the nature of the debt you owe to him? And how much do you feel you can offer your creditors on a monthly basis. With only two creditors you would be better off trying to come to affordable ongoing payment arrangements with both of them directly, or you could also consider declaring yourself bankrupt. Do you have any assets which would be at risk under a bankruptcy, such as a property?