Firstly, you will have to get the restriction placed on the house removed by the IP.
You will also need to repay all of your original debts 100p in the pound plus fees and statutory interest.
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
Yes, if there are sufficient proceeds you will pay 100% of the outstanding original debt, plus fees and interest at 8% p.a simple ( so not as much as the original interest rate).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Out of interest why have you decided to sell your house?
Usually the point of an IVA is so that you get to keep it as it will be extremely difficult getting back on the property ladder again.
If you must sell it or really want to its best to get a variation agreement in place FIRST before selling it. That way you might be able to offer a sum equal to the remaining payments on the IVA form the proceeds and keep the balance, subject to the figures.
If you don't do this all of your husbands share of equity will have to be paid into the IVA estate unless and until the total amount of his debt plus the statutory interest plus all costs have been paid i full.
Please take care - he might end up losing the house and either lose all of his equity AND may have to continue making payments into his IVA.
