loans and iva

[bonzo123]

i understand it is impossible to borrow money on an unsecured basis, if you have an iva.is it possible to borrow on a secured basis, and can anyone direct me to a company which would consider iva where lack of equity would not allow the iva to be paid off ?.

[EverClean]

Where there is an IVA and poor equity there are often problems with lenders because under the terms of the IVA, your creditors are due a proportion of the increase in value of your property at the end of the 4 years.

For example, if they settled for 25p in the �1 then they would be entitled to 25% of any increase in value of your property over the 4 years of your IVA agreement.

This makes it difficult for a lender to be sure of what they are securing the lending on.

I think this can only be done by consolidating and paying off the IVA.

[Finance Guy]

try www.refinanceuk.com - if it can be done, they can do it for you.

good luck

FG