IVA, Bankruptcy or what?

[nickship]

We think that soon we'll be repossessed - there is already a suspended possession order and we defaulted again last month. Assuming we aren't deemed intentionally homeless we hope to be able to move into a couincil house with our 3 kids (9 14 17) and multitude of pets.

We appear to have enough disposable to get by each month on paper but it never never happens - we also smoke and like wine and of course there's the pets. We owe 18K to Lloyds and various credit cards and store bits total around 45K including 7K finance on a car. Our combined incomes before overtime is about 2K net per month. Seems a lot?

Everyone offering formal advice either has angles or morality and frankly i'm doubtful we'll get bankruptcy with what's left in the pot each month. I'm worried IVA will cripple us for 5 years and deep down I think get the repossession out the way and then see if we can juggle all of it without going too far down the road of serious debt eradication.

I know there is someone who has a clear view of all this out there and if there is more than one so much the better - this is really taxing me guys and if you have any thoughts please let me know.

[Mod: Sorry, I had to change your font and size, as it was so hard to read for most people]

[MARTIN3030]

Hi Nick......would help if you could post so its not too difficult to understand.
I will come back to you on this one.

[nickship]

Not completely sure what you mean mate - but i'm up for whatever's gonna help - i'll keep an eye open for you anyhow, can IM MSN or Yahoo, email or phone - in a bit - Nick