will an iva be possible without loosing my home

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bluesarebest

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Post by bluesarebest » Thu Oct 09, 2008 7:20 pm
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i have a property with a secured loan attached which gives me negative equity,will an iva still be possible without loosing my home
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kallis3

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Post by kallis3 » Thu Oct 09, 2008 7:30 pm
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Hi and welcome.

An IVA is possible without you losing your home, can you post a little more information? What unsecured debts do you have?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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MelanieGiles

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Post by MelanieGiles » Thu Oct 09, 2008 9:22 pm
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It may well be possible so long as you can carry on paying the mortgage and secured loan, together with monthly contributions to your other creditors via the IVA.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Fri Oct 10, 2008 6:18 am
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Depends on the totality of your debts and whether you have enough income to make a reasonable contribution to your unsecured creditors as well as meeting the mortgage and secured loan payments.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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