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Posted: Wed Jul 11, 2007 3:10 pm
by dj00
If I enter into an IVA and then release equity through the sale of my home (I may relocate at the end of this year), is there the option to pay off the creditors using that equity?
Posted: Wed Jul 11, 2007 4:40 pm
by aguise
Hi ther
If there is enough equity you could offer a full and final settlement using the equity no need to enter an iva first. If you post more detail of amount of equity and amount of debt and if poss who largest creditors are then more advice can be given.
Ang
Posted: Wed Jul 11, 2007 5:03 pm
by Oliver
Ang is correct if you have enough equity you may be able to sell your home and provide a one off full and final repayment to your creditors.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
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www.thomascharles.com/about_us.asp
Posted: Wed Jul 11, 2007 5:06 pm
by iva_squirrel
Hi dj00
I agree with the above posts.
Releasing equity it's a good option to pay off full & final to your creditors.
Regards,
Michelle P.