I'd like to sell my house

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ivan678
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by ivan678 » Fri Feb 08, 2019 5:49 pm
I'm in an iva, into it's fifth year, I've been told I'll have to release equity from my house or extend the iva for another year but I really want to sell my house as my circumstances have changed, from the start of the iva I owed £7500 what will I likely owe if I do sell up and how should I go about it?
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kallis3
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by kallis3 » Fri Feb 08, 2019 6:13 pm
At the moment you will not be able to sell without your IP's permission.
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Foggy
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by Foggy » Fri Feb 08, 2019 6:38 pm
If you sell in the IVA you will need permisiion to do so and they will take whatever sum is required,up to 85% of the value of the proceeds, to cover the full outstanding debt, fees and possible statutory interest, not just the agreed payments outstanding.
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kallis3
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by kallis3 » Sat Feb 09, 2019 9:21 am
Plus the fact that your credit record will still be shot.
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