I'd like to sell my house

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ivan678

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Post 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?

kallis3

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Post by kallis3 » Fri Feb 08, 2019 6:13 pm
At the moment you will not be able to sell without your IP's permission.
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.
http://kallis3.blogs.iva.co.uk

Foggy

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Post 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.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Sat Feb 09, 2019 9:21 am
Plus the fact that your credit record will still be shot.
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.
http://kallis3.blogs.iva.co.uk
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