Can I get an iva having just bought a house?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
GHound
Posts: 1
by GHound » Sat Oct 20, 2018 8:49 am
Would I get accepted for IVA when I have just brought a house with help to buy? Was left lump sum in a will and used this for the deposit but everything else before the house in terms of debt and new store cards since moving in is out of control. Debt of about 17K
User avatar
Foggy
Forum Expert
Posts: 27284
Contact
by Foggy » Sat Oct 20, 2018 8:56 am
Much would depend on the exact timing and time-scale of events, but the creditors might not look kindly on things --- on the other hand, now that you are a house owner, they stand to get back more than they would have done otherwise, either by way of equity release in the final stages of the IVA or a 12 month extension. So a bit of swings and roundabouts.

I would suggest a chat with a couple of providers to get more detailed advice based on your whole set of circumstances.
User avatar
luluj
Forum Expert
Posts: 10270
Contact
by luluj » Sun Oct 21, 2018 1:41 am
I echo Foggy's thoughts - give a few companies a ring to establish the best route for you to take. There will be a solution for you.
User avatar
Lisa Thomas
Industry Expert
Posts: 7033
Contact
by Lisa Thomas » Mon Oct 22, 2018 8:57 am
You need to speak to an IP firm to check whether an IVA is suitable for you and would be viable and attractive for creditors to vote in favour. More info is needed to be able advise via this forum.
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 36 guests