IVA without my mortgage lender finding out?

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youlikewhatyousee

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Post by youlikewhatyousee » Tue Jan 30, 2007 12:57 pm
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Is there any way to enter into an IVA without my mortgage lender finding out? I have a together mortgage with Northern Rock, interest only - the monthly payment is split between the mortgage and the personal loan that came with it. I also have 1 secured loan on the property.
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Oliver

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Post by Oliver » Tue Jan 30, 2007 2:53 pm
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As Northern Rock is an unsecured creditor as well as your mortgage provider, they will have to be included in the proposal to avoid preferential treatment


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MelanieGiles

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Post by MelanieGiles » Tue Jan 30, 2007 10:00 pm
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As your mortgage lender has no influence on the acceptance of your IVA (apart from the unsecured element), there is no legal reason for them to be made aware of the IVA - but as Ollie rightly points out this is unavoidable in your case.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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