IVA Questions & Answers
Q : Will they want to take equity out of my home?
A :
If you own your own home and have a sufficient amount of equity in your home then you might be asked to release a proportion of equity out of your home. This is usually requested in the 4th year of the arrangement.
This is usually done via a re-mortgage but in some cases can be done through the sale of your home.
This will all be explained to you both over the phone and in writing prior to your proposal being drafted.
Don't worry your IP and advisors are on your side and in every case will do their utmost to ensure that the proposal put forward to your creditors is best suited to your personal circumstances.
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IVA Helpline : 08000 935 695.