can your IP force the sale of your house.

2 posts Page 1 of 1
Post Reply
 
 

Lesley_x

User avatar
Posts: 16
Joined: Thu Mar 15, 2007 3:34 am
Location:
Post by Lesley_x » Wed Jul 04, 2007 6:18 pm
Quote
can your IP force the sale of your house.
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Wed Jul 04, 2007 10:53 pm
Quote
I'm getting deja vu as I'm sure I answered this post earlier!

If you are in an IVA which fails, and you have equity in your property, the IP can apply for a bankruptcy order to be made against you and have himself appointed as your Trustee in bankruptcy. If you are unable to find a third party to buy out your beneficial interest in the property, then the Trustee can apply to Court for possession proceedings which could result in the eventual sale of your property.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
Top
Post Reply
2 posts Page 1 of 1
Return to “IVA postbag for july”