I am a self employed landlord. Can I use PPI to clear mortgage arrears ?

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Pauline.64

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Post by Pauline.64 » Tue Sep 30, 2014 3:43 pm
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I am a self employed landlord and my properties are in a bad state of repair. I recieved a £1600.00 pay out from PPI? I had to stop paying the mortgage to evict a tenant and repair the property as the IVA leaves no money in my budget for such occurrences. Now I am in Mortgage arrears can I use the PPI to clear my Mortgage arrears?
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Foggy

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Post by Foggy » Tue Sep 30, 2014 4:54 pm
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Only with the express permission of your IP -- which is unlikely. You could request a payment break for a period to cover the arrears --- this will be tacked on to the end of the 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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