What happens if I move after 5 years of an IVA?

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nicola943
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by nicola943 » Thu Mar 30, 2017 4:42 am
If I moved after 5 years of an Iva could I be forced to pay any extra money . Or would it be one years worth of payments .
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Foggy
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by Foggy » Thu Mar 30, 2017 6:46 am
Do you mean sell your property, or are you in rented accomodation ?

If rented, a move will make little difference. If you sell before the IVA is formally completed, you could lose most of the equity. In any event, before the end of the IVA a new mortgage will be difficult and expensive to obtain.
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kallis3
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by kallis3 » Thu Mar 30, 2017 8:24 am
Also, if you try and sell you will find you have a restriction on your house so may find it difficult anyway. As Foggy says - renting shouldn't be a problem as long as you can find a sympathetic landlord.
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