question category: IVA

can i get an IVA if one of my creditors has a charge on my house
Submitted on: 23rd Mar 2009 by Non-Member | Total Answers: 1

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Re: can i get an IVA if one of my creditors has a charge on ...

Yes you can.

However the creditor which has a charge is unlikely to be involved in the IVA. Like your mortgage they will be content to rely on their security in your home.

If the house has been sold and that debt is no longer secured the shortfall could then be included in an IVA (or in bankruptcy)

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you're considering entering into an IVA, Debt Advice Foundation provides a free, confidential helpline and can advise you on whether you qualify. Click here to find out more.

Submitted on: 24th Mar 2009 by Darren Member

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