lost a lot of money on the stock market

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agentp

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Post by agentp » Mon Sep 29, 2008 8:50 pm
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My husband has borrowed a lot of money and lost it on the stock market! We are considering an IVA. We live on a narrowboat and rent out our house. Could we lose both of these assets?!
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Adam Davies

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Post by Adam Davies » Mon Sep 29, 2008 8:52 pm
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Hi
In an IVA you could keep both assets as long as you do not have to subsidised the rented property
Regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Tue Sep 30, 2008 12:49 pm
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If you live permanently on the narrow boat, you may find that creditors ask you to sell your property if it has equity that could be easily released and paid to them. Are you able to live on the boat for the full twelve months of the year?
Regards, Melanie Giles, Insolvency Practitioner
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