Charge still on property

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Post by jeanette344 » Wed Feb 17, 2021 1:55 pm
I had a failed IVA in 2009 and subsequently went bankrupt. The IVA company put a charge on my property, I didn't have a clue about this until 2018 when I wanted to switch a secured loan to a different company. How long can they keep the charge on my property. All the creditors that was part of my IVA was included in my bankruptcy.

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Jeanette Lewis


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Post by Foggy » Wed Feb 17, 2021 2:19 pm
Have you approached the OR regarding this, as previously suggersted ? Ask your former IP to remove the restriction as all debt has been dealt with under BR and, if they continue to refuse you can make a complaint to their regulatory body. The regulators will not directly intervene, but could levy a fine against the IP if they find against him in the complaint. Often the threat of a potential fine is enough to make an IP re-think.

You could also speak to Land Registry for advice about removing the restriction as being no longer pertinent.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014


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Post by WallE » Thu Feb 18, 2021 10:57 pm
Is it a charge, or a restriction? If it's a restriction, this should have been removed as a matter or routine during the failure of your IVA.

Who was your IP? First course of action would be to contact your former IP and request that they remove the restriction by way of submitting an RX4 to Land Registry.

If this fails, you can complete an RX3 form with Land Registry yourself which essentially tells them you believe the restriction is no longer valid or required, and that it should be removed. They will then investigate, and advise accordingly.

Quickest way will normally be to contact your former IP.
Hi! I used to work for one of the UK's biggest Insolvency Practitioners - I don't work for an IP anymore but still have an extensive knowledge of the IVA industry. How can I help?
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