I am selling my property and I would like to offer a final payment to his IVA. I would like to know would that be a percentage in the equity in my property?
I feel your IP is best placed to advise on the sale of your house as there will be a restriction on the property and they will be informed of the potential sale and price etc.,
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi Brent, you need to speak to your IP about this as you will need their permission to sell the house. It depends upon what is stated in your proposal/chairmans report as to what happens.
You will be allowed funds to pay your estate agent/solicitors fees and a deposit towards a rental property.
As to whether or not you can make a full and final will depend upon your IVA terms and how much equity you have.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi brent1, like lesley and kallis have said speak to your or your partners IP they will advise you of the best way forward about your house sale.Good Luck.
If the property is excluded from the IVA, then it is yours to deal with how you wish, however most IVAs these days have equity release provisions contained within them - so you might be able to negotiate retaining a suitable sum to meet your costs of relocation and rental deposit - assuming that you intend to move into rented accomodation.
