What happens to my partners share of the equity ?

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Chrisd0185

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Post by Chrisd0185 » Mon Sep 22, 2014 11:22 pm
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I have just completed my 5 year iva but have now been asked to provide a redemption figure and value of my property. I anticipate the valuation to be around £190,000 and the redemption figure to be £170,000 does this mean I will have to pay more money back? What happens to my partners share of equity in this case £10,000?
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Michael Peoples

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Post by Michael Peoples » Tue Sep 23, 2014 9:42 am
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If you have the standard equity clauses the IVA should just complete now. However there may be other conditions specific to your proposal so you need to discuss this with your own IP.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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