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Sell the house????
kell1
Posts: 2 Newbie
I dont know what to do? Our debts total (£28000 minus money owed to family that doesnt have to be paid back straight away). We own a 2 bed property with £25000 equity. We desperately need to move as we have 2 children (a boy and a girl). We have spoken to an Independant Financial Advisor who told us that our only option was IVA's but we would need to get an estate agent who would value the house at a lot less than what its worth - so that the IVA looked a better option to the creditors.
I think a better option would be to sell the house, pay off the debt with equity, rent for a couple of years (whilst saving as much a poss) and then buy another house.
What do you think?
I think a better option would be to sell the house, pay off the debt with equity, rent for a couple of years (whilst saving as much a poss) and then buy another house.
What do you think?
0
Comments
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any IFA getting you to falsify figures really shouldnt be trusted, creditors are not daft.0
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