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Posted: Fri Jan 22, 2016 8:45 pm
by Amanda.20
Can I sell my property to pay off a iva of 18,000
I have approx 40,000 equity
iam desperate to leave the iva after 2yrs
Posted: Fri Jan 22, 2016 9:02 pm
by kallis3
Hi and welcome,
Is there any reason why you wish to leave?
There will be a restriction on the property so you cannot sell it without the IP knowing.
Posted: Fri Jan 22, 2016 9:41 pm
by Amanda.20
Hi
I took the iva out in panic , iam wanting to sell my home anyway
what would the restrictions be ?
My iva company are very unhelpful , dont reply to my letters , I have a bill off the iva for an outstanding £700 , because I did overtime at work , which needs to be payed by march , they have already increased my payment by £80 a month so I pay £ 280 per month , they have my outgoings cost but dont appear to take them it consideration , this is having a impact on my health and is the biggest mistake of my life .
Posted: Sat Jan 23, 2016 10:44 am
by kallis3
You just have to let the IP know that you wish to sell.
Which company are you using? Where you given all of the options available and had everything explained to you?
Posted: Sat Jan 23, 2016 11:10 am
by kev59
After losing my job, I could not keep up iva payments and working with my IP.
My house was sold to pay off the IVA. with enouth left to restart my renting a flat. which I had to pay 6 months rent upfront.