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Posted: Wed Apr 25, 2007 12:16 pm
by scott.w
I own 2 apartments which I let out. The equity in them is for my parents to help them pay off their mortgage when I sell both of them. I take it that I would be expected to use any equity in these to pay off part of my debt within an IVA.
Posted: Wed Apr 25, 2007 2:41 pm
by Adam Davies
Hi Scott
Yes you will.
Is the equity in the flats ,and any other property that you own ,more than your actual unsecured debts ? If it is then you are not actually insolvent and would be unable to enter into an IVA.
Regards
Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)
Please check out my blog:
http://andydavie.blogs.iva.co.uk
View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp