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Posted: Tue Aug 28, 2012 10:11 pm
by stressed paul
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?
Posted: Tue Aug 28, 2012 11:41 pm
by kazzafunk
Not too sure about this Paul - hopefully Mel or another IP will be along later this evening or tomorrow morning to assist you.
Posted: Wed Aug 29, 2012 12:28 am
by MelanieGiles
These costs will be included in the mortgagees' claims in the IVA.
Posted: Wed Aug 29, 2012 1:23 am
by stressed paul
Thank you Mel this was what i was told just wanted to have it confirmed
puts my mind at rest
Posted: Wed Aug 29, 2012 1:29 am
by Shining
Hi and welcome, glad Melanie has reassured you. Do contiue to post as there is mostly someone about to offer support/advice. x