if I did an IVA

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polly.b

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Post by polly.b » Sat May 10, 2008 2:10 pm
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Hello
I was wondering i Own half my house and Longhurst housing association own the other half If i did an iva would i be made to sell my half of the house cos that is something that i wouldnt want to happen.
Could you give me some advise on the matter please
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rockbottom

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Post by rockbottom » Sat May 10, 2008 2:18 pm
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hello Polly and welcome to the forum

im sorry but i dont know the answer to your question but someone will be along soon who will, i know that if you own your house solely with a mortgage you will be expected to release some equity in the forth year i dont what difference there would be in your situation if any. hope you get the answer youre looking for.
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MelanieGiles

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Post by MelanieGiles » Sat May 10, 2008 2:19 pm
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Hi Polly and welcome to the forum

With shared ownership properties, it is unlikely that you would be required to raise any equity at the end of an IVA and certainly would not be required to sell your property. Do you have sufficient income to make ongoing payments to creditors over a five year period?
Regards, Melanie Giles, Insolvency Practitioner
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