HI Im in a iva and have my house up for sale to pay part of my full and final payment to my creditors. could anybody tell me what happens if my house does not sell will my iva fail and will I be made bankrupt by my creditors . I have till october to sell Thank you s544
Hi and welcome If your house doesn't sell you will hopefully be given an extension by your creditors. Very, very unlikely that they will force bankruptcy Regards
Andy Davie, IVA.co.uk spokesperson and a Debt Advisor If you need any help or advice about the various debt solutions available please contact me via my website at www.andydavie.com Author of "Real life IVA stories" and Debt Counsellor of the year finalist 2010
If the property does not sell there is the possibility that it may have to go to auction. However, regardless of what price the property achieves at auction all creditors in the IVA should be bound by the sale receipts. Your IP should be able to confirm this for you.
HI Im in a iva and have my house up for sale
Posted - 06 February 2010 : 16:08:40
