Page 1 of 1
Posted: Sun May 17, 2009 9:39 am
by hara33
Hi,
Once an amount of debt is written off, does it stay that way. If I was to sell my house and settle the total amount of my IVA, would my IVA then be cleared. I have been in my IVA for 2 years. Thanks
Posted: Sun May 17, 2009 10:52 am
by kallis3
Hi,
If you sell your house (with the IP's permission of course!) and were able to make a full and final offer out of the equity, then your IVA would be cleared. It would still remain on your record for the full 6 years.
If you had enough money from the sale, you would be expected to pay off the total amount of your debts, not just the agreed IVA sum.
Posted: Sun May 17, 2009 10:53 am
by MelanieGiles
This would actually need the prior agreement of your creditors as well as the IP.
Posted: Sun May 17, 2009 10:55 am
by kallis3
Sorry - forgot to put them in!
Posted: Mon May 18, 2009 7:44 am
by David Mond
Presumably the equity you have in your house is included within your IVA proposal?