can secured loan be included

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jay5

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Post by jay5 » Sun Feb 17, 2008 12:25 am
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if i have a secured loan on my house can this be included
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Lisa2009

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Post by Lisa2009 » Sun Feb 17, 2008 12:27 am
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Unfortunateley no secured loans cannot be included however, there can be a provision built into your income and expenditure to enable you to service the secured loan.
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


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MelanieGiles

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Post by MelanieGiles » Sun Feb 17, 2008 1:01 am
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And if there is a shortfall to the secured lender - ie yo have negative equity - that element can and should be included into the IVA proposal and the creditor may vote to the extent of their unsecured balance.
Regards, Melanie Giles, Insolvency Practitioner
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