IVA FAQ's

Will I have to sell my house if I set up an IVA?

In Bankruptcy, a Trustee has to deal with the bankrupt's equity in his/her home, which may well involve its sale. There are no corresponding legal requirements in an IVA, although if there is equity in your home then your creditors most likely will expect you to release much of it to pay into the arrangement. This will normally be by remortgage as an exit route from the IVA.

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