If you are not a home ownercan you still get an IVA?

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Cheryl.wr

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Post by Cheryl.wr » Tue Jun 05, 2012 3:42 pm
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If you are not a home ownercan you still get an IVA?
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Michael Peoples

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Post by Michael Peoples » Tue Jun 05, 2012 3:46 pm
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If you do not own a house it makes bankruptcy more attractive to you and an IVA more attractive to creditors. It also means your IVA will likely close after 5 years as there will be no extension due to equity.

Get some free advice and good luck.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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Olivia Young

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Post by Olivia Young » Tue Jun 05, 2012 3:46 pm
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Hi Cheryl and welcome to the forum.

Yes you can still be eligible for an IVA if you are a homeowner, depending on the amount of equity in the property.

If you are considering an IVA, have a look on IVA.com and get in contact with a few companies to see if and IVA is suitable for you.

Let us know how you get on [:)]
Olivia Young | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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barb

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Post by barb » Tue Jun 05, 2012 3:47 pm
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Hi
Yes you can, we have an IVA and do not own any property, the only difference is we do not have an equity release clause in our IVA that home owners generally do.
Hope this helps
shy bairns get nowt, the worst your IP can do is say no!
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Broke of London

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Post by Broke of London » Tue Jun 05, 2012 4:51 pm
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I hardly need to add anything but I too have an iva and do not own my own home.

Barb - I love the saying on your signature! My dad always says 'the squeaky wheel get the oil' LOL!! x
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barb

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Post by barb » Tue Jun 05, 2012 5:09 pm
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lol, I like it BoL, me dad use to come out with lots of sayings (some I could not mention on here ;)) and they are all true lol
x
shy bairns get nowt, the worst your IP can do is say no!
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