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Posted: Sun Oct 23, 2016 12:33 am
by Craig.p
My iva finishes in 3 months what happens if I sell my house after that will I still have to pay money to my creditors
Posted: Sun Oct 23, 2016 7:55 am
by ginger323232
Wait till you get your completion certificate - then all the money is yours.
Your are still bound to the IVA until you have that certificate
Posted: Sun Oct 23, 2016 10:33 am
by Foggy
Has equity been addressed ? The finish in 3 months might not happen if not as there is the possibility of an extension for 12 months.
In any event it is prudent not to sell until such time as you have your completion certificate. Once you have that you are free do do whatever you wish and keep the proceeds.
Posted: Mon Oct 24, 2016 9:39 am
by Lisa Thomas
Once your IVA is completed, the equity (if any) has been dealt with and you have your CC then the IP should remove their caution (if any) from the property and you are free to do what you like with it.
As Foggy has mentioned - has the equity/12 month extension be dealt with? Do you have the standard extension clause in your IVA and do you have more than £5k minimum equitable interest for it to kick in?