www.iva.co.uk

Accepted into IVA March 2014 which was non-protocol. One of the agreed amendments was equity would be dealt with by PCIVA guidelines (ie protocol compliant)
Was concerned as led to believe the new guidelines stated a secured loan could be used to release equity.
IP has stated it at his sole discretion and would never ask me to obtain secured loan for this.
Obviously I'm 3 years away from this but can the creditors force IP to go down secured loan route

I am not sure how much discretion the IP has when a modification has been proposed at the meeting and agreed by you. The Protocol T&Cs state 'Remortgage includes other secured lending such as a secured loan' therefore if you qualify for a secured loan at the time then would be expected to raise the funds accordingly.

As far as I am aware the supervisor has discretion if you cannot remortgage to accept an extension or third party funds. The secured loan however seems to be part of the remortgage process so may depend on what can be raised at the time.

It will also depend upon which "edition" of the Protocol was proposed and agreed, only the latest includes the obligation to use secured lending.