Should have bought a house before the IVA, doh!

[mws]

I don't know if it would have made any difference, hindsight is sometimes a horrible thing, but in some ways I wish I'd have struggled for a couple more months and bought a house before I started the IVA. The way I see it now is that even right up to the IVA commencing I had a good credit record and could have bought a house and obtained a mortgage, believe me I almost did as well, argh! However now as I rent and that my credit rating will be black for ages after it completes I'm not even sure if it's worth trying to get on the property market at all [especially with the crash going on at present].
Do any home owners agree with me or have any of you had to have your homes repossesed even though you'd started an IVA? Something that I would have worried about for the whole 5 years I think, although even in an IVA you house is protected isn't it? Plus I would have had to remortgaged at the end to pay off my excess that I'll end up with when I finish (and can't really afford to pay off as how the hell are you supposed to save anything "for a rainy day" whilst in an IVA!).

Not sure why I'm posting this as it's all irrelavent and I'll probably only end up feeling like I need to hang myself or something!!! Just felt like venting steam, sorry..........

[Viki.W]

NO hanging please mws! We sold our house last year because we couldn't afford it and I can't ever see me wanting to buy again to be honest.

Don't forget, your house is only protected in an IVA if you can keep up with the mortgage payments and you might have to release equity too.

If you were insolvent a few months before your IVA then it wouldn't have been a wise move to buy as you would have funded it all using credit knowing you couldn't pay it back. You made the right decision I think. X