into our 6th year of IVA due to equity in our property, we recently got a successful variation as a third party offered a settlement which the creditors agreed to. The money has been paid so no more payments from us.The supervisor says the final paperwork might take 6 months. Am I correct in thinking we cant sell our property until the CC has arrived? We want the equity for ourselves but the blurb seems to say they can still grab the equity or the bulk of it so trying to be cautious.Any way to speed up the CC process please?
It is best to wait until you get that completion as the restriction will still be on your property until after that.
Depending upon which company you use will depend upon how long it takes and whether or not there is any PPI to be addressed.
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
The 6 months is the usually quoted time frame, but most do it in a shorter time. It is inadvisable to sell before you get the CC as the equity would then be, technically, payable to the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Either wait for your CC or get written confirmation from the IP that s/he has no interest in the property and get the restriction/caution removed from the property.
update..full and final paid 27 May, CC received 20th June!! World record?? Who's job is it to clear the restriction on my deeds please as we plan to sell shortly..thanks again
Congratulations -- the IP should remove the restriction. Give it a couple of weeks and check with the Land Registry.
It also wouldn't hurt to drop your handler an email, thanking them for the quick closure and (by the way) can they tell you if the restriction has been dealt with yet
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Brilliant news moneytree - really pleased for you.
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
