Hi..I would like to make a full and final

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1


User avatar
Posts: 7
Joined: Sat Oct 06, 2007 6:02 pm

Post by maggie.m » Wed Jun 09, 2010 4:16 pm
I would like to make a full and final payment..I have enquired through my mortgage company but I do not have enough equity to remortgage, and wondered am I allowed to take a secured loan to pay IVA. My payments would be less than what I am paying through IVA as struggling with pay at present..with increase in petrol etc.
Thanking you


User avatar
Posts: 1288
Joined: Wed Dec 12, 2007 11:15 am
Location: United Kingdom

Post by rayb » Wed Jun 09, 2010 4:22 pm

I have got to be honest having the IVA your credit is shot to pieces so how would you get a secured loan?

Have you got family who could maybe make a F & F payment for you and you pay them back.

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm

Post by Michael Peoples » Wed Jun 09, 2010 4:31 pm
What you are sugesting sounds fine in principle but be careful about what you commit to as loans are difficult to get for those in IVAs. Do not make your long term situation worse and it may be better to speak to your IP first if you are struggling with payments.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com


User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am

Post by MelanieGiles » Wed Jun 09, 2010 9:52 pm
You will struggle to get a secured loan if you are already in an IVA - and may find that you have to make payments over a much longer period past the end of the current IVA.

I agree with Michael - if you are struggling always see if your IP can do anything to reduce the payments as a first resort.
Regards, Melanie Giles, Insolvency Practitioner
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”