It is important to remember that secured loans are automatically included into an IVA, alongside your unsecured creditors. Ninety nine times out of a hundred, however, the secured creditors will confirm to the IP acting as Nominee and then Supervisor that they intend to rely on the value of their security and not partake in the dividend process.
This can be particularly useful to know, as if there ever is a resultant shortfall following the sale of the asset, it is bound under the terms of the IVA.
