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Posted: Tue Jul 08, 2008 3:53 pm
by kathryn.w
does an iva cover mortgage arrears
Posted: Tue Jul 08, 2008 4:27 pm
by Sarah
Hi
I dont believe it does as this is secured debt?
I hope this helps
Posted: Tue Jul 08, 2008 4:55 pm
by size5
Unfortunately it doesn't, but as a lot of mortgage arrears can be caused by unsecured debt problems, eg a bank paying itself before paying a mortgage payment, then it is worth speaking to a professional to make sure that you have the right advice relevant to your own situation.
It may be, for example, that sufficient provision can be made within a budget to allow any mortgage arrears to be cleared, and then raising an IVA payment once that has been done if that is the way forward.
Visit
www.iva.com and have a look round, read the reviews etc and do and try and speak to 2 or 3 people to get a good feel for things.
Regards.