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Voluntary charge vs IVA

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We are reluctant to enter into an IVA, but we do have equity in our home that would easily cover our debts when the house sells (on the market at present). Does anyone have experience of a voluntary charge and what it entails?

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  • ManyWays
    ManyWays Posts: 1,370 Forumite
    1,000 Posts Fifth Anniversary Name Dropper
    Do NOT enter an IVA if you expect to sell your house. Is most of your debt owed to one creditor? 
  • fatbelly
    fatbelly Posts: 22,990 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    A voluntary charge can be useful if faced with a statutory demand.

    Are your debts defaulted? Why are you thinking about a voluntary charge?

    I would have though full & final settlement would make more sense.

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