Posted: Fri Jan 04, 2008 2:27 pm
are loans secured on property included in an iva?
Although secured creditors should be notified about the IVA, they will not normally participate therein as they will rely on realising their security if the borrower gets into difficulty.
However, if the property is sold or repossessed and the secured lender suffers a shortfall, then the shortfall could be included as a creditor in the IVA.