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Posted: Tue May 03, 2011 7:29 am
by Paul.23
Hello
Would my mortgage be included in a IVA ?
Posted: Tue May 03, 2011 7:35 am
by luluj
Good morning Paul - welcome to the forum. Your mortgage would not be included in your IVA as this is classed as secure loan. Only unsecure accounts are included in an IVA such as credit cards, overdrafts, some loans (unsecure) etc.
Speak to a few of the professional companies to gain advice on how to go forwards in resolving your debt issues. Stay logged onto the forum and we will come and help answer your questions as you progress through your journey to a debt free life !
Posted: Tue May 03, 2011 7:49 am
by Shining
Hi and welcome to the forum as Lulu says a mortgage is secured lending, within the IVA it may be dealt with by way of an equity clause during the final year.
Try talking to two or three professionals and that way you will get case specific advice which is free and by contacting 2 or 3 you will ensure impartial advice.
All the best if you're looking at starting out on your IVA journey. x
Posted: Tue May 03, 2011 8:28 am
by kallis3
Welcome from me as well Paul.
Your mortgage is taken into account when doing your income and expenditure as you have to make allowances for paying it on top of any IVA payments.
As Lesley and Luluj have said, take some specific advice. Visit
www.iva.com for a list of companies and reviews. That's always a good place to start.