Creditors put charge on home and are selling it

[kathleen]

i got an iva but creditors still put a charge on my home and last week took charge of the home and are going to sell it is this right

[Broke of London]

Is this creditor listed in your proposal? If it is, they are bound by the terms of the iva and your ip will sort this out as they cannot place a charge on your property post-iva acceptance unless the iva fails. Try not to worry x

[kallis3]

Speak to your IP about this immediately. As Broke says, if it's included in the IVA then they cannot put a charge on it.

Are you up to date with your mortgage payments? Could it be anything to do with that?

[kathleen]

yes i am up to date with morgage payments i was given this iva on conditionn that i sell my property

[Broke of London]

Compulsory house sale isn't something I've heard of in an iva - this is more usually associated with br. Are you thinking instead of the equity release clause? If you are not able to remortgage creditors will normally agree to a 12 month xtension rather than see yu sell your house.