question category: IVA

Can I sell my home while paying an IVA
Submitted on: 20th Jan 2009 by Non-Member | Total Answers: 1

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Sell my home while paying an IVA

If you sell your house whilst in an IVA any equity can be claimed by your Insolvency Practitioner (IP) and paid to your creditors. However, any equity you have in your home is likely to have to be released for your creditors towards the end of your IVA anyway. You need to talk to your IP as well as think this through. I would suggest market conditions and property prices will play a significant part in your decision making process. E.g. is it better to rent whilst prices are falling, give as little as possible or no equity to your creditors at the end of your IVA and then post IVA completion, keep the equity in your house.

Submitted on: 21st Jan 2009 by TA Member

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