is it now too late to try for an i.v.a?

[steven.b]

i have asked the c.a.b for help but they have made things worse for me i now have 2 of my debtors wanting me to go to court to secure the loan against my house and most probably wanting me to sell is it now too late to try for an i.v.a?

[quark2008]

An expert will be along very shortly, chill out for a bit and welcome to the forum, it's a fantastic place for all sorts of sound advice and support.

[indebtforever]

no it isnt too late an expert will advise soon can you give more info on your position?

[size5]

It is a very difficult question to answer with such limited info. Could you expand a little as to approximate level of debt, how many creditors you have and if there any joint creditors if you have a spouse or partner, approximate equity you think is in the house and whether joint or not, approximate level of disposable income you have, and how far you are down the line you are with the potential charging orders. I know that seems a lot to ask for but it is all relevant.

Once a debt has been charged via a court order, for instance, it cannot be included in an IVA proposal.

I would encourage you to speak directly to a professional as soon as possible as well, but as you will need to have all this info at hand anyway then we may be able to give you an idea or two.

Regards.

[MelanieGiles]

Hi steven

In my book it is never too late to try! If the creditors who are seeking to secure charges over your property are less than 25% of your overall debts, then most insolvency practitioners would be happy to help. If they are over this level, then it is most likely that they will reject an IVA on grounds that they would secure their position in full in the event of a successful charging order application - but do seek professional advice on this point as Size 5 has already suggested.