A question of property and mortgage lenders who repossess

[marksmiles]

A question of property and mortgage lenders who repossess.

In the case of property repossessions which occur ( half way ) through an IVA, the associated debts do not crystallise until a sale ( to a new owner ) and this sale event brings some certainty to the any shortfall amounts, and how much a lender might seek to reclaim.

Where it is the case that the mortgage lender did not have an opportunity to vote those debts at the original meeting proposing the IVA, might it be normally expected that the debtor remains protected form those debts by virtue of the shield of an IVA?

Second question. If the person subject to the IVA enjoyed about a premature conclusion to the IVA ( perhaps it was somehow paid off ), but those losses from property were only crystallised AFTER that premature IVA conclusion, would the debtor, now out of IVA, still enjoy protection against any pursuit by the mortgage lenders?

[plasticdaft]

It is sometimes possible to add a mortgage shortfall into an existing iva but as it would have to be accepted by other creditors they may not be keen due to it reducing the dividend for all.

The iva would offer no protection from creditors after it concludes.

Paul