Assets specifically pledged

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by Michael.20 » Sun May 21, 2017 9:45 am
what does" assets specifically pledged" within a iva mean? Thanks for your comments.
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by Foggy » Sun May 21, 2017 10:17 am
It usually refers to an asset ( home, maybe, or a car) that is secured for the purposes of the loan it was purchased with (mortgage or HP) and so has a charge on it already. However, there might be a subtley different definition within an IVA. Hopefully an Industry Expert can put me right tomorrow.
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Michael Peoples
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by Michael Peoples » Mon May 22, 2017 8:04 am
You are entirely correct Foggy. It does usually refer to a car or house but can also relate to Brighthouse for example who secure their debts against all types of household items.
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