will I be elligible for I V A

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cheryl.m

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Post by cheryl.m » Mon Feb 26, 2007 10:14 pm
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I Bought my home off the local council under right to buy scheme at a discounted price. it is now worth 3 times what I paid for it. Would I have to sell it or remortgage it to clear my debts or will I be elligible for I V A
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MelanieGiles

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Post by MelanieGiles » Mon Feb 26, 2007 10:31 pm
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Hi cheryl

So long as you are out of the three-year usual council claw back, then your house can be remortgaged and that money used to clear your debts.

What is the value of your equity compared to the amounts you owe to your creditors?

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
Regards, Melanie Giles, Insolvency Practitioner
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