www.iva.co.uk

Hello,

Does anyone know if you petition for bankruptcy, can the OR make you sell your home, and make you rent for cheaper accomodation?

I am worried that the OR may make use sell up and get cheaper accomodation?

I can meet the mortgage payments, does anyone know?

Many thanks,

Hi
If you have equity then the OR can make you sell your home,however they will normally give you twelve months to find alternative accomodation and give a third party[could be your spouse,family or friend]a chance to buy out your equity.That way you can stay in the property and just continue to pay your mortgage.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp