Sprout loans eligbility

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jawad

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Post by jawad » Thu Dec 30, 2021 10:21 am
Hi,

Does anyone know if you need to be a home owner to be eligble for a sprout loan to end the IVA early?

Thank you

Foggy

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Post by Foggy » Thu Dec 30, 2021 11:16 am
As Sprout early release loans are generally secured on property you would need to be a homeowner. However Sprout do offer unsecured lending as well, but I do not know if this would be offered to those in an IVA, as the lending risk is high, or, indeed, whether it would be acceptable to existing creditors. To be honest I would be surprised if your IP would agree, if Sprout would agree and if creditors would agree. You can but ask.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Suki12

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Post by Suki12 » Thu Dec 30, 2021 8:03 pm
Hi , I’m not a home owner and got accepted best thing I’ve done , there’s no harm in trying

Foggy

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Post by Foggy » Thu Dec 30, 2021 9:02 pm
Thu Dec 30, 2021 8:03 pmSuki12 wrote:
Hi , I’m not a home owner and got accepted best thing I’ve done , there’s no harm in trying
There you go, jawad, always worth an ask.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

luluj

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Post by luluj » Sat Jan 01, 2022 6:42 am
You would still require the agreement of your IP before taking out an unsecured loan whilst in an iva.
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