Surrendering investment properties.

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
 
 

stressed paul

User avatar
Posts: 16
Joined: Wed Aug 08, 2012 12:18 am
Location:

Post by stressed paul » Tue Aug 28, 2012 10:11 pm
I have just entered into a iva which will last approx 1 year the major part of my debt is 3 investment properties all of which i am surrendering to the lenders my understanding is that once they sell these the shortfall debt becomes unsecure and is covered by the iva but what about additional exps that the lender may incurr in the reprocession and selling process and interest charges are they included also?
Last edited by stressed paul on Tue Aug 28, 2012 11:36 pm, edited 1 time in total.
 
 

kazzafunk

User avatar
Posts: 4749
Joined: Sat Mar 19, 2011 6:47 pm
Location: United Kingdom

Post by kazzafunk » Tue Aug 28, 2012 11:41 pm
Not too sure about this Paul - hopefully Mel or another IP will be along later this evening or tomorrow morning to assist you.
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Wed Aug 29, 2012 12:28 am
These costs will be included in the mortgagees' claims in the IVA.
Regards, Melanie Giles, Insolvency Practitioner
 
 

stressed paul

User avatar
Posts: 16
Joined: Wed Aug 08, 2012 12:18 am
Location:

Post by stressed paul » Wed Aug 29, 2012 1:23 am
Thank you Mel this was what i was told just wanted to have it confirmed
puts my mind at rest
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Wed Aug 29, 2012 1:29 am
Hi and welcome, glad Melanie has reassured you. Do contiue to post as there is mostly someone about to offer support/advice. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”