Sale of property after IVA

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IVAconfused75
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by IVAconfused75 » Mon Oct 02, 2017 4:46 pm
If you have received your certificate of completion and letter of no further financial interest in this person, would you be able to sell your house without being chased from creditors or IPs because you have paid off 100% or is there a consideration if you're selling on health grounds, but you have paid off the agreed settlement?

Thanks.
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Foggy
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by Foggy » Mon Oct 02, 2017 4:57 pm
If your IVA has completed successfully then the creditors and IP have no interest in the house and what you do with it. Check that the RX1 restriction has been lifted (if it was placed in the first instance) to avoid any delays or embarrassment. Your IP should be able to confirm, or a quick search of your title at Land Registry (few quid) will reveal all.
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sheraz.butt
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by sheraz.butt » Mon Oct 02, 2017 7:59 pm
Sounds like you are free to do what you wish as you have completed your IVA and are free from from it.

I would also double check what Foggy said to be on safe side.
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kallis3
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by kallis3 » Mon Oct 02, 2017 9:03 pm
No problem at all once you have completed.
IVAconfused75
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by IVAconfused75 » Tue Oct 03, 2017 3:42 am
Thanks for that.
Can I just confirm that after I have paid the agreed amount, not the 100% debt, that I am free to sell my home, dependent on the meeting going in favour of the settlement?

I want to pay them the agreed amount from a third party to settle my IVA.
My IP says it will take 4 months for a meeting to be arranged.
If all goes well, do you have any idea of the timeframe I should receive certificate of completion after that?
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luluj
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by luluj » Tue Oct 03, 2017 4:13 am
A full and final offer to creditors should not take 4 months to do but unfortunately some companies appear to drag their feet in this.
Ensure any f&f offer stipulates less payments taken during the set up of this offer and that the monies are coming from a 3rd party solely for this purpose and would not otherwise be available to you.
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Foggy
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by Foggy » Tue Oct 03, 2017 6:54 am
The house sale can proceed once you have your completion certificate. It makes no difference if you paid 100% or 50%, just that it has successfully completed.

F&F offers should go through within 2 months, but, as Luluj says, some firms drag their feet. Again, with the issue of the certificate, some do it within weeks (days even!) where others take up to 6 months. Generally you are looking at three months.
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Michael Peoples
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by Michael Peoples » Tue Oct 03, 2017 8:45 am
Send the request in writing directly to your IP and they have 21 days to call a variation. Four months is way too long and you should not be fobbed off.
IVAconfused75
Posts: 18
by IVAconfused75 » Tue Oct 03, 2017 9:49 am
Thank you all very much for your clear advice.
Hopefully I can start this process soon.
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