paying off the creditors using equity?

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dj00

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Post by dj00 » Wed Jul 11, 2007 3:10 pm
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If I enter into an IVA and then release equity through the sale of my home (I may relocate at the end of this year), is there the option to pay off the creditors using that equity?
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aguise

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Post by aguise » Wed Jul 11, 2007 4:40 pm
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Hi ther
If there is enough equity you could offer a full and final settlement using the equity no need to enter an iva first. If you post more detail of amount of equity and amount of debt and if poss who largest creditors are then more advice can be given.

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

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Post by Oliver » Wed Jul 11, 2007 5:03 pm
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Ang is correct if you have enough equity you may be able to sell your home and provide a one off full and final repayment to your creditors.

Best Regards
Oliver

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

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Post by iva_squirrel » Wed Jul 11, 2007 5:06 pm
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Hi dj00

I agree with the above posts.
Releasing equity it's a good option to pay off full & final to your creditors.

Regards,
Michelle P.
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