Posted: Wed Jul 04, 2007 6:18 pm
can your IP force the sale of your house.
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