I am considering IVA - but am also selling my home

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Post by cho » Tue Apr 24, 2007 4:47 pm
I am considering IVA - but am also selling my home - I have very little equity in my property & only expect to receive aprox £4000.oo from the sale as cleared funds. what is my position on this. I have an endowment policy with life cover of £30000.00.


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Post by kris » Wed Apr 25, 2007 4:15 pm
hi, not an expert - just in debt.., but i think your endowment policy can be cashed in if you need to do this, it depends on how long you had it and how much you paid already! or did you want to keep it going?

Adam Davies

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Post by Adam Davies » Wed Apr 25, 2007 4:56 pm
Hi Cho
The 4k can be used as part of an IVA and also your endowment policy can be cashed in, or sold on ,to also go into your IVA.

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
Andam Davies


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Post by Oliver » Thu Apr 26, 2007 12:41 pm
It is likely that you will have to surrender your endowment policy and pay the proceeds into your IVA.

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Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards


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Post by MelanieGiles » Sat Apr 28, 2007 9:17 am
How much do you owe to your creditors? It may be possible to offer them a full and final settlement using the equity from your property sale and endowment policy proceeds.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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