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Posted: Sun Dec 12, 2010 1:03 am
by kathleen
i got an iva but creditors still put a charge on my home and last week took charge of the home and are going to sell it is this right
Posted: Sun Dec 12, 2010 1:13 am
by Broke of London
Is this creditor listed in your proposal? If it is, they are bound by the terms of the iva and your ip will sort this out as they cannot place a charge on your property post-iva acceptance unless the iva fails. Try not to worry x
Posted: Sun Dec 12, 2010 8:30 am
by kallis3
Speak to your IP about this immediately. As Broke says, if it's included in the IVA then they cannot put a charge on it.
Are you up to date with your mortgage payments? Could it be anything to do with that?
Posted: Sun Dec 12, 2010 6:00 pm
by kathleen
yes i am up to date with morgage payments i was given this iva on conditionn that i sell my property
Posted: Sun Dec 12, 2010 6:49 pm
by Broke of London
Compulsory house sale isn't something I've heard of in an iva - this is more usually associated with br. Are you thinking instead of the equity release clause? If you are not able to remortgage creditors will normally agree to a 12 month xtension rather than see yu sell your house.