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IVA bungle - any way round it
Silverstarlight
Posts: 10 Forumite
in IVA & DRO
My brother is buying a property - so far so good. The owners had an IVA which was settled 10 months ago and they checked with the people running the IVA months ago, who said no problem, you can sell the house after nine months and won't have to pay any of the money into the IVA because it's finished.
This couple have proof that a variation for full and final was accepted and they were told the 6 month closure timescale would end about a month ago. The property was also removed as an asset according to a letter from the people running the IVA.
Fast forward to now and the people running the IVA claim to have made a mistake and say if the owners sell the property they will have to pay a lump sum into the IVA.
This seems to be a bungle through no fault of the owners. I've seen the paperwork and it's clear in what it says that the IVA is closed and the property can be sold with none of the money going into the IVA. Does anyone know how long it could take for this to resolve so that the sale can go ahead?
Thanks
This couple have proof that a variation for full and final was accepted and they were told the 6 month closure timescale would end about a month ago. The property was also removed as an asset according to a letter from the people running the IVA.
Fast forward to now and the people running the IVA claim to have made a mistake and say if the owners sell the property they will have to pay a lump sum into the IVA.
This seems to be a bungle through no fault of the owners. I've seen the paperwork and it's clear in what it says that the IVA is closed and the property can be sold with none of the money going into the IVA. Does anyone know how long it could take for this to resolve so that the sale can go ahead?
Thanks
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