We are currently 2 years into a 25yr help to buy mortgage and it looks likely that an iva is our only way out of about 20k of unsecured debt. The htb repossession triggers include "bankruptcy" but an Iva is not bankruptcy according to my research. I know mortgages are protected during iva's but I'm worried that it would trigger repossession on the help to buy equity loan side. Please can anyone answer to put my mind at ease. Thanks.
A debt relief order may also apply to you and might not be caught under this definition of 'Bankruptcy'.
Whether an IVA is viable will depend on what assets you have available to offer creditors and whether it will be attractive enough for them to accept it.
I recommend you speak to an IP.
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