Page 1 of 1
Posted: Sun Jul 08, 2007 2:55 pm
by david.b
Does an IVA cover a loan secured on your property (not including mortgage)?
Posted: Sun Jul 08, 2007 2:56 pm
by Sensible77
No it doesn't. A secured loan must continue to be paid the same as with a mortgage.
Posted: Sun Jul 08, 2007 3:09 pm
by MelanieGiles
But if the loan is only partially secured, the unsecured element could form a claim in the IVA if the lender wished to lodge one. Because of this, your IP would need to notify the secured lender of the creditors meeting.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk