Can secured debts such as a mortgage be included

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eig

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Post by eig » Wed Mar 14, 2007 11:25 am
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Can secured debts such as a mortgage be included with other creditors amounts to achieve the required 75pc approval
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neverending

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Post by neverending » Wed Mar 14, 2007 3:30 pm
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Hi
No its unsecured debts only
regards
Andy Davie
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MelanieGiles

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Post by MelanieGiles » Wed Mar 14, 2007 3:38 pm
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However, if there is negative equity the secured creditor can revalue its security and then vote for the unsecured element.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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