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Posted: Tue Jul 19, 2016 7:45 am
by Susan.45
If I had a iva can my home be reprosessed .
Posted: Tue Jul 19, 2016 7:55 am
by Max_The_Mole
I guess so....but only if you fail to make your mortgage payments.
Posted: Tue Jul 19, 2016 8:11 am
by kallis3
Hi and welcome,
It will only be repossessed if you fail to keep up with the payments. You will be expected to try and remortgage towards the end of the term if you have any equity.
Speak to one or two companies - Andy Davie/Vincent Bond (details under ask experts a question link on the left hand side of the page) for some free advice.
Posted: Tue Jul 19, 2016 9:07 am
by Foggy
One of the main thrusts of an IVA, as opposed to going bankrupt, is to protect your home. So, as said above, as long as you keep up the usual mortgage payments, the house should be safe.
Posted: Tue Jul 19, 2016 9:19 am
by Lisa Thomas
Yes if you dont keep up with your mortgage repayments or fail the IVA and find yourself facing Bankruptcy or creditors placing charges on your home for their debt.