www.iva.co.uk

if you enter into an iva is any of the credit companies able to take an interest in my car or home. i have a shared ownership house. regards

Hi Dena and welcome.

With your car, it depends how much it is worth as to whether there would be a problem keeping it.

With your home, normally you would be expected to release some of the equity in year 4 of any IVA. How this would work with shared ownership, I don't know but I am sure someone else will.

Credit companies can sometimes put a charge on your house, but again, don't know how this would work with shared ownership.

Hi
In an IVA your car is normally excluded.
You are normally required to release equity in month 54 of an IVA agreement but as you are shared ownership it is most likely that you will just extend your IVA by a year rather than release equity.
There is normally a restriction put on your property in an IVA but not a charge
Regards

Hi Dena

I just wanted to welcome you to the Forum ... please keep posting for you are amongst friends here.

At what stage are you in your journey? Have you approached an IP yet?

All the best

Debbie