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Advice please - applying for IVA
creative70
Posts: 3 Newbie
in IVA & DRO
Hi
I am currently waiting on my solicitors to put forward my case to my creditors. What is concerning me is the fact I may have to sell my property even though there is no equity in it, actually its in negative equity at the moment. Obviously if my application is successful, this means selling the property at a shortfall will add more debt, and this is causing me great concern.
Has anyone else had similar experiences?
Thanks
I am currently waiting on my solicitors to put forward my case to my creditors. What is concerning me is the fact I may have to sell my property even though there is no equity in it, actually its in negative equity at the moment. Obviously if my application is successful, this means selling the property at a shortfall will add more debt, and this is causing me great concern.
Has anyone else had similar experiences?
Thanks
0
Comments
-
Is there an IP involved here?
The only interest in your property should be in any EQUITY in your property. The IVA should have NO INTEREST in putting you further into debt "releasing" your NEGATIVE EQUITY... you're either explaining this wrong or you should run 100 miles from your current IVA providers!Would you ask the wolves to look after the sheep?
CCCS funded by banks0 -
Hi there
Im dealing with Grant Thornton who are putting a proposal together. Obviously I will fight to keep the house but I will review it annually if my case is successful to the creditors. Just adds to the stress0
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