I don't have a pension, so my house is my pension.

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paula.rl

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Post by paula.rl » Thu Jul 15, 2010 6:05 pm
I don't have a pension, so my house is my pension. I am alone (no partner or children) so I have no other income.Would I have to sell my house if I got an IVA?
 
 

Shining

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Post by Shining » Thu Jul 15, 2010 6:12 pm
Hi there and welcome to the forum, your house would be safe within an IVA assuming you maintain your Mortgage payments. There may well be an equity clause that you must release equity in yr 4. Have you spoken to an IP yet? they will explain this is far more detail than I can. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Michael Peoples

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Post by Michael Peoples » Thu Jul 15, 2010 8:05 pm
One of the main benefits of an IVA is that your property is normally protected. Speak to an IP firm for some free advice based on your complete circumstances.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

kallis3

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Post by kallis3 » Thu Jul 15, 2010 8:34 pm
Hi, and welcome from me as well.

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Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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plasticdaft

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Post by plasticdaft » Thu Jul 15, 2010 9:09 pm
Paula are you working just now?? How much equity is there in the house and how much debt are you in?

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