would secured loan be included in IVA ?

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jen.w

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Post by jen.w » Mon Jan 07, 2008 5:11 pm
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We care considering taking out an IVA,we have approx £30,000 unsecured debts but also ahve a £40,000 secured loan, would this be included in the IVA?
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Adam Davies

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Post by Adam Davies » Mon Jan 07, 2008 5:29 pm
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Hi
No,an IVA only covers unsecured debts unless the secured debt becomes unsecured as a result of a house sale where the proceeds were not enough to clear the secured debt.
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Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Mon Jan 07, 2008 8:52 pm
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What value is your house, and how much do you owe on your mortgage?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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