I am considering IVA - but am also selling my home

[cho]

I am considering IVA - but am also selling my home - I have very little equity in my property & only expect to receive aprox £4000.oo from the sale as cleared funds. what is my position on this. I have an endowment policy with life cover of £30000.00.

[kris]

hi, not an expert - just in debt.., but i think your endowment policy can be cashed in if you need to do this, it depends on how long you had it and how much you paid already! or did you want to keep it going?

[Adam Davies]

Hi Cho
The 4k can be used as part of an IVA and also your endowment policy can be cashed in, or sold on ,to also go into your IVA.
regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[Oliver]

It is likely that you will have to surrender your endowment policy and pay the proceeds into your IVA.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[MelanieGiles]

How much do you owe to your creditors? It may be possible to offer them a full and final settlement using the equity from your property sale and endowment policy proceeds.

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