Selling house

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yaffy36

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Post by yaffy36 » Wed Apr 18, 2007 1:12 pm
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Per previous comments, my iva failed some months ago, and since then I have heard nothing from bancruptcy from any of my creditors, because at the minute Iam no longer in a iva or pending bancruptcy, what would be the implications of selling my house,bearing in mind none of the debt was borrowed against my house.
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MelanieGiles

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Post by MelanieGiles » Wed Apr 18, 2007 2:11 pm
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Hi Yaffy

I would not do that if you are insolvent - unless you are going to use the full sale proceeds to purchase another house - thereby transferring equity from one property to another.

Notwithstanding that you are not subject to current insolvency proceedings, you are still insolvent and still have responsibilities to deal with your debts.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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