if the amount i can aford to pay on my iva is not enough to continue with the iva and the debt management is no good would i be forced to sell my house
Hi, it depends what action creditors take. How much are your iva payments and why do you think your iva will fail? Do you not want another debt management plan or iva? Are you thinking of br?
If you deliberately fail the IVA you could be made bankrupt and the sale of your house could be forced. Normally problems are resolved by speaking to your IP so forced sales are not that common.
Will they do that michael if there is no equity in the house or hardly any? We failed ours and got a new iva . Having said that we gave up the house inbetween.
They would only pursue the house if there was equity and it was worth doing so. However, they can come back and revalue in the future so there is no guarantee that your home is safe in bankruptcy.
