can an iva be considered with a secured loan ?

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kelly33

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Post by kelly33 » Fri May 02, 2008 11:18 pm
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can an iva be considered if you have a secured loan?
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size5

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Post by size5 » Sat May 03, 2008 12:36 am
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All depends on the circumstances really.

If you are looking to include a secured debt then it cannot be included unless you no longer have the property, but if you have a secured debt and myriad other unsecured debts then you need to take professional advice as soon as you can.

Regards.
Last edited by size5 on Sat May 03, 2008 12:37 am, edited 1 time in total.
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MelanieGiles

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Post by MelanieGiles » Sat May 03, 2008 11:51 am
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Yes you can - but you will need to continue to pay the secured loan to avoid possessory action being taken against the asset. Is this a loan you have against your property, and do you have other unsecured debts?
Regards, Melanie Giles, Insolvency Practitioner
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