Can I get an iva having just bought a house?

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GHound

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Post 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

Foggy

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Post 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.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

luluj

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Post 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.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

Lisa Thomas

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Post 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.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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