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iva and second charge loan
hi my question is this. my oh and myself are now looking at the possibility of an iva we have £42000 in unsecured debt between us we have come to an arrangement with northern rock about our mortgage repayments but the real killer is our loan with picture which has pretty much put is in the position that we are in now.would i be able to put the second charge loan into an iva.we have 3 months arrears on the picture loan but even if they were to try to reposses our home there is only enough equity in it to pay of northern rock and not picture so surley it would be in there intrest to come to some sort of arrangement any ideas please.
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Comments
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No, secured borrowing cannot be included in an IVA.Accept your past without regret, handle your present with confidence and face your future without fear0
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