question category: IVA

can i sell my house while on an iva
Submitted on: 27th Oct 2009 by Non-Member | Total Answers: 1

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Re: can i sell my house while on an iva

Hmm thats not really a yes or no question.

Are you in an Individual Voluntary Arrangement or just thinking about it?

When you enter an IVA your Supervisor normally puts an RX1 caution on the house so you can't sell it except with their consent.

You need to discuss this with your Supervisor and if you have good reasons to move house you should be able to come to an agreement over it.

If there is enough equity in the house to make an offer to settle your debts or your new circumstances allow you to pay more into the arrangement you might be able to end your IVA early. In that case the Supervisor will almost certainly agree.

The IVA might have to be "varied" if the return to creditors is going to change.

But only your IVA supervisor (the Insolvency Practitioner) can really advise you about your own arrangements.

If you have questions about IVAs or the alternatives available by all means click on my name and contact Debt Advice Foundation.

Submitted on: 28th Oct 2009 by Darren Member

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