I have separated from my partner and sold the house. What happens with the IVA proceedings ?

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Johnd8517

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Post by Johnd8517 » Thu Jul 14, 2016 2:35 pm
I am currently in a IVA, have separated from partner and sold the house. What happens with the proceedings.
 
 

kallis3

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Post by kallis3 » Thu Jul 14, 2016 2:39 pm
Hi and welcome,

I presume you were able to have the restriction lifted by the IP before the sale?

You will have to pay across enough to satisfy your total debts in full (not just the IVA figure) less legal fees and possible removal expenses.
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.
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Lisa Thomas

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Post by Lisa Thomas » Thu Jul 14, 2016 3:33 pm
Your share of the equity will be no doubt due into the IVA estate unless you obtained a variation agreement before hand to use some as a lump sum settlement of the IVA and keep the balance.
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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