Me and my partner are in a joint IVA OF £650 per month and have got 15 months left. We have decided to migrate for family reasons. We live in a flat where the lease is only 49 yrs old. We have asked 3 estate agent to value and as lease is below 50 yrs only cash buyers and maximum value will be £125k. We have joint mortgage of £105k left. in our iva it says there was joint equity of £10k to be released in last year. when we migrate we Will not be able to pay the iva and the mortgage. so if we were to make a settlement before we migrate can we sell the flat and give the profit as a final settlement to finish our IVA
Welcome ... Don"t panic there will be a solution. Have a open conversation with your IP and seek their advice... I am sure they will guide you through this. Sorry i cannot answer in ny more detail.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
