Posted: Sun Jul 31, 2011 4:47 pm
if you sell your house 3 yrs into iva do they take the full amount from sale of house or take 3 yrs worth of payments into consideration as well
Hi Sean,
You won't be able to sell without your IP being informed about it. You will usually be able to keep enough money back to fund fees etc., and to fund rental for another house.
Anything else will have to be paid across. If your equity is enough to pay your IP 100p in the pound plus interest (including what you have already paid) then the IVA will finish, otherwise it will continue until either the full amount is paid off or the IVA finishes, whichever is the soonest.