Do we lose our home if we go for an IVA?

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janet

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Post by janet » Sat Jan 06, 2007 1:16 am
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We have approx 28000 of unsecured debt with three creditors. We
can afford £250 a month. Do we lose our home if we go for an
IVA?
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neverending

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Post by neverending » Sat Jan 06, 2007 6:32 am
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NO,BUT YOU MAY HAVE TO RELEASE SOME OF THE EQUITY IN THE FINAL YEAR OF THE IVA.
REGARDS
Andy Davie
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iva_squirrel

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Post by iva_squirrel » Sat Jan 06, 2007 5:02 pm
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You can safeguard your property, as the proposals can be made flexible to suit personal circumstances. If you have equity in your house, an endowment policy linked to your mortgage, or valuable assets you may be required to release them in to pay your creditors. (This is usually done near the end of the arrangement).


Kind regards,


Julia

For more information about IVAs, please visit my website:
www.supersonicsquirrel.net
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Oliver

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Post by Oliver » Mon Jan 08, 2007 2:49 pm
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An excellent post by IVA Squirrel.

An IVA will allow you to retain ownership of your property as compared to bankruptcy where the court has the ability to sell your house.



Best Regards
Oliver

Thomas Charles Ltd: Experts in all things IVA
www.thomascharles.com
Best Regards
Oliver
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