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hello, ive just been entered inti an iva and one of the terms is that i have to sell my house in 6 months it is in my name only can my wife claim half the equity or can i try to renegotiate, my main creditor is the inland revenue, i feel let down by my ip supervisor as i think they have done nothing for me i thought the idea was to help me keep my house and i could have worked out for myself sell home pay debts and be homeless its not rocket science as they say

that should normally made clear at the proposal stage.

Have you had your creditors meeting yet ??

yes

Hi David

I'm not sure but I think I've just answered this query under another post! But in that case, it appeared that you had not yet entered into your IVA.

Did you read the IVA proposal before you signed it and it was issued to creditors? You must have noticed these provisions then and agreed to them, therefore it will be difficult to get out of it now on the basis that you did not understand.

Did you meet your IP face to face, or was this done all over the phone? I am sure the issue regarding the house must have been carefully explained to you, given the serious implications of agreeing to sell it within 6 months. If this is not the case, you may have grounds for a complaint.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk