I have been trying to make sense of all my debts, last week i went to see a debt specialist at my local CAB we discussed my options and came to the conclusion that i am buggerd! She arranged for me to speak to a insolvency practitioner regarding bankruptcy.
I went to see the lady and she advised me that i have too much equity in my house to go bankrupt (I don't want to lose my house!)
She then suggested if i could get my hands on some money a full and final IVA would be the way to go!
I have £43250.00 of unsecured debt, she thought that if i could come up with 20k (Which i could get from my brother!) that my creditors would accept this!
I don't know a thing about full and final iva's but this seems like a high amount to me, any thoughts?
I have been unemployed since February and am really struggling to find a job that pays more than the benefits myself and family are on.
Does anybody know anything about full and final iva's?
Any Advice is more than welcome