If i take out an IVA..will i ahve to sell my house

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hairybeary

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Post by hairybeary » Wed Dec 17, 2008 5:53 pm
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If i take out an IVA..will i ahve to sell my house? before or after?
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kallis3

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Post by kallis3 » Wed Dec 17, 2008 5:55 pm
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Hi hairybeary and welcome.

You don't have to sell your house in an IVA. You may just be required to try and remortgage in the 4th year to release some equity to pay across.
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
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David Mond

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Post by David Mond » Fri Dec 19, 2008 3:00 am
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Unless you have massive equity then creditors might want you to either sell or re-mortgage sooner rather than later.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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