could i sell my house to pay IVA off ?

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fitz

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Post by fitz » Wed Aug 13, 2008 7:03 pm
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If i'm curranlty in an IVA but am struggling to meet payments could i sell my house to pay IVA off without declaring myself bankrupt
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Viki.W

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Post by Viki.W » Wed Aug 13, 2008 7:24 pm
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Hey fitz, welcome to the forum. If you don't have the equity release clause and you think you have enough equity to make a good offer then I don't see why not. If you want to post a few more details then we can help further. How long have you been in IVA, how much are you paying, how much was the original debt and how much equity do you REALLY think is in the house? X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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MelanieGiles

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Post by MelanieGiles » Thu Aug 14, 2008 12:31 pm
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Your IP will need to vary the terms of your arrangement to accomodate this, but if you have equity which would make a sensible offer to creditors, it is certainly worth discussing this option with your IP.
Regards, Melanie Giles, Insolvency Practitioner
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