can l sell my house to pay off the IVA earlier

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m.v

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Post by m.v » Wed Oct 03, 2007 11:24 am
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I am already a year into my IVA, can l sell my house to pay off the IVA earlier. my house was not inclueded in the IVA
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Adam Davies

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Post by Adam Davies » Wed Oct 03, 2007 3:49 pm
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Hi
As it was not included then yes,you can either remortgage to raise the funds or sell up.
If you look to return the original dividend or 1-2p more then it will surely be accepted.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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northernmonkey

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Post by northernmonkey » Wed Oct 03, 2007 4:09 pm
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Do you not have a clause that states that you can't full and final settle in the first 2 years?

i know each IVA is different but I thought that was fairly standard?
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ray_a

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Post by ray_a » Wed Oct 03, 2007 4:15 pm
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Interesting one?

If you sell and you have spare funds the Supervisor could take the view depending on the wording of the IVA that you have funds to make a 100% pay off to your creditors including statutory interest!

I would check the wording first and if this is the case I would strongly suggest an offer of a remortgage!
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