advice needed

judeb · Joined: 05 Jan 2008 Posts: 1

hi, hope someone can give me some advice, i have currently got debts of £30k, i jointly own a property, the debts are all held in my name and not my partners, can i do an iva for myself or does my partner need to be included, i ask this as my partner is threatening to leave soon and therefore would leave owing nothing as the debts are not in his name (silly thing to do never again), i am considering selling the property but i need to get myself out of trouble first, then i would be able take the mortgage on in my name only help please thank you

Holly · Posted: Mon Mar 10, 2008 12:27 pm Post subject:

Judeb,

Thank you for your post.

It is possible to propose an IVA in your situation but would need to know more information before giving you a definate answer.

If you are considering selling your property and have equity available we could possibly look at putting the equity into the arrangement as a lump sum and make an offer to your creditors to clear all of your debts. (even if the equity is less than your debts!)

As i mentioned above, it would be very possible for you to do an IVA without your husband's input but we will require more information.

I would advise you to complete the ClearDebt Analyser (link found on your homepage) and we shall be able to advise you better as to whether an IVA would be possible.

Regards,

Holly