What happens if I sell my house after my IVA finishes ?

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Craig.p

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Post by Craig.p » Sun Oct 23, 2016 12:33 am
My iva finishes in 3 months what happens if I sell my house after that will I still have to pay money to my creditors
 
 

ginger323232

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Post by ginger323232 » Sun Oct 23, 2016 7:55 am
Wait till you get your completion certificate - then all the money is yours.
Your are still bound to the IVA until you have that certificate
 
 

Foggy

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Post by Foggy » Sun Oct 23, 2016 10:33 am
Has equity been addressed ? The finish in 3 months might not happen if not as there is the possibility of an extension for 12 months.

In any event it is prudent not to sell until such time as you have your completion certificate. Once you have that you are free do do whatever you wish and keep the proceeds.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Mon Oct 24, 2016 9:39 am
Once your IVA is completed, the equity (if any) has been dealt with and you have your CC then the IP should remove their caution (if any) from the property and you are free to do what you like with it.

As Foggy has mentioned - has the equity/12 month extension be dealt with? Do you have the standard extension clause in your IVA and do you have more than £5k minimum equitable interest for it to kick in?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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