I am under debt management at the moment. If I take on an IVA, will my home be safe ?

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Christopher.16

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Post by Christopher.16 » Thu Sep 18, 2014 6:57 pm
I am under debt management at the moment and the company that are dealing with it have asked me to take on IVA. I'm paying £150 per month. I have a £120,000 mortgage with about £140,000 equity. If I take on this IVA is my home safe? Thanks
 
 

Foggy

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Post by Foggy » Thu Sep 18, 2014 7:52 pm
It is safe -- but you will be required to release equity towards the end of the IVA, which could saddle you with a secured loan. How much is your debt ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

relieved33

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Post by relieved33 » Thu Sep 18, 2014 8:22 pm
It sounds like a large amount of equity. If you have to release the equity at the end anyway, would it be possible to do that now for a full and final IVA?
 
 

Foggy

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Post by Foggy » Thu Sep 18, 2014 8:24 pm
That's why I was wondering what debt we were talking about, Relieved.

Shaun often helps with secured loans to address IVA and equity and I was wondering whether he could assist with releasing enough for a full and final ( one off payment) IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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