would I be forced to sell the house ?

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luci.12

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Post by luci.12 » Sun Sep 12, 2010 11:21 am
I am looking at an iva as in debt - have a mortgage of 137,000 and the estimated value of the property is 185000. i have always made the morgage payments. If i was to take out an iva would I be forced to sell the house as a way of paying part of my debts
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kallis3

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Post by kallis3 » Sun Sep 12, 2010 11:23 am
Hi, and welcome to the forum.

How much are your unsecured debts?
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.
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plasticdaft

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Post by plasticdaft » Sun Sep 12, 2010 2:04 pm
Any debts secured on the property?
Discharged today the 8th feb 2012. View is much brighter now.
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MelanieGiles

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Post by MelanieGiles » Sun Sep 12, 2010 10:08 pm
It would be very unlikely that you would be required to sell your property - but I would take expert advice from an insolvency practitioner about all of the debt solution options you currently have available to you.
Regards, Melanie Giles, Insolvency Practitioner
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