What will happen at the end of an IVA if there is no equity ?

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by chris254 » Thu Nov 16, 2017 1:23 am
Chris has been in an IVA for 5 years and has been paying �100 per month. He said there is no equity in his property and wants to know what will happen at the end of the IVA.
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by Foggy » Thu Nov 16, 2017 8:02 am
Assuming there are the usual equity release clauses, if there is less than £5k equity and this can be demonstrated to the IP's satisfaction, then the IVA will cease after the originally agreed term, with no extension being applied.
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