can charaging order be included in IVA?

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kdh_06

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Post by kdh_06 » Sun Sep 14, 2008 6:36 am
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we have 3 large debts that have gone to court and the creditors have put a charging order on our property, can these debts be included in the iva ?
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kallis3

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Post by kallis3 » Sun Sep 14, 2008 10:08 am
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Hi kdh,

Not sure about this one, but I'll bump it back up in the hope that one of the technical experts will see it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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MelanieGiles

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Post by MelanieGiles » Sun Sep 14, 2008 11:58 am
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It will depend whether there is sufficient equity in your property to cover those debts or not. If the equity covers the debts, then they are fully secured and will not partake in the IVA, if the effect of these being registered against your property gives rise to unsecured shortfalls, then these should be included in your IVA.

The IP you have chosen to represent you ought to be able to advice you on this point.
Regards, Melanie Giles, Insolvency Practitioner
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