equity in house

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Helhan

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Post by Helhan » Sat Jun 23, 2007 10:19 pm
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Hi-again!
At best we have £3500 equity in our house (excluding selling/legal/removal costs, which if allowed in any calculations would equate to very little, if any equity at all)
If our IVA proposal is not successful, how safe would the house be in bankruptcy? This is the part which is keeping me awake at night!
Thanks
Helen
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MelanieGiles

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Post by MelanieGiles » Sat Jun 23, 2007 11:31 pm
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You would need to find someone able to provide you with funds to acquire the Trustee's interest, if you wanted to keep the house Helen. Don't forget the Trustee can sit on the property for up to three years, so it could appreciate in that timescale.

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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