Can you pay off you debts early

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Vicky.cr

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Post by Vicky.cr » Sun Aug 08, 2010 11:05 pm
Can you pay off you debts early even with an IVA in place, say for example if you sell your house?

Can you get a mortgage during the period of time you have an IVA set up?
 
 

MelanieGiles

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Post by MelanieGiles » Sun Aug 08, 2010 11:22 pm
Hi there and welcome to the forum

Yes it is possible to pay your debts off early if funds become available. You can apply for a mortgage whilst in an IVA with your supervisor's permission, but these days you would need a substantial deposit - perhaps as much as 50% to put down.
Regards, Melanie Giles, Insolvency Practitioner
 
 

plasticdaft

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Post by plasticdaft » Mon Aug 09, 2010 9:37 am
Very difficult,dare I say impossible to secure a mortgage whilst in an IVA right now.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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