Could I be expected to get a secured loan or even sell my properties ?

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Raj.21

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Post by Raj.21 » Wed Jun 24, 2015 3:09 pm
Hi after month 54 im expected to remortgage any equity I have in my properties , if unable to obtain iva will be extended by further 12 months . I have around £100 k equity as I live down the south & house prices have gone up , unfortunately I'm unable to remortgage.

Could my iva company expect me to get a secured loan or even worst sell my btl properties even tho it does not state on my proposal to .
 
 

lifenoteasy

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Post by lifenoteasy » Wed Jun 24, 2015 3:19 pm
It depends on the specific wording (or rather what is not said specifically) in your agreement.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

Michael Peoples

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Post by Michael Peoples » Wed Jun 24, 2015 3:32 pm
This should have been explained at the time but it may be that an extension is all that is needed. the wording of the proposal and any modifications will tell you for sure.
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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