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Posted: Sun Dec 31, 2006 9:44 am
by scottisaac1
hi there im thinking of applying for an iva but am worried as i part
own a house with a friend an dont know where i stand in regards to him? will he have to know about it?
Hey man!
Posted: Sun Dec 31, 2006 4:10 pm
by neverending
Hi
It is most likely that you will have to discuss your situation with him but only if terms of your IVA require an equity release.You can either post further details so that further advice can be given or give one of the companies on this site a call and discuss your situation in more detail.
Regards
Posted: Tue Jan 02, 2007 11:30 am
by Oliver
It will all depend on the amount of equity you have now and what you may have in c5 years time. As Neverending rightly states in an IVA you may be required to release your share of the equity in the property. As you own the property jointly it is likely that you will have to discuss this with your friend.
Best Regards
Oliver
Thomas Charles Ltd: Experts in all things IVA
www.thomascharles.com