looking to do a full and final iva

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mandw

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Post by mandw » Thu Feb 21, 2008 7:05 pm
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we are looking to do a full and final iva as i have a bussiness to sell, our house has an 85% mortgage , and i would like to know if we have to sell the house after the full and final is complete will our creditors expect all or some of the money from the sale ?
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aguise

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Post by aguise » Thu Feb 21, 2008 7:19 pm
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Hi there and welcome to the forum.
I am not able to answer your questions but hopefully one of the technical experts will be along soon to advise.

Ang
Please visit my blog at http://aguise.blogs.iva.co.uk/
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Cybus

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Post by Cybus » Thu Feb 21, 2008 7:42 pm
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You will need to provide further information to get an informed answer, please.
Do you know how much you actually owe?
Are all the debts yours personally?
Will there be any liabilities from the business that have personal guarantees attached? Or will all business liabilities be settled?
What sort of equity is there likely to be in the property?
Tell it like it is.
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Adam Davies

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Post by Adam Davies » Thu Feb 21, 2008 7:47 pm
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Hi
If you have a full and final accepted and concluded then any equity from your house can not be asked for.
The important thing is to make sure that the IVA is CONCLUDED,is off the insolvency register and you have a satisfaction certificate from your IP
Regards
Andam Davies
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