Just to clarify that the OR/Trustee has to realise the beneficial interest in property for the benefit of the creditors. A third party (who you can nominate) can buy out your beneficial interest.
Lesliep, how much did you owe unsecured when you went BR as there may be a better route for you?
The bad news is that the money you've paid into the IVA so far has probably only covered the IP's fees. Given the amount of equity available, perhaps a Full & Final IVA would be better which would result in your bankruptcy being annulled. Please feel free to call the helpline for more information.
Equity and the OR
Posted - 29 May 2008 : 09:50:41
