If i decide to go ahead with an IVA, then decide to move house in a year or so and pay off my mortgage, would this affect the IVA. I am thinking of moving to a Park home, so although i would have to pay for this from the funds from the sale of my house , then pay the mortgage off there would be no money left. Could someone explain how i stand please?
If you move after the IVA is accepted, this will need the IP's permission - and given that you will undoubtedly have agreed to raise equity against your property during the final year, a substantial chunk of this would need to be handed over for the benefit of your creditors.
In line with my earlier post, it would be helpful if you could let us know how much you owe to unsecured creditors.
