Selling house after IVA

rmah

Hello, could anyone advise please?

Myself & my husband have just finished paying into our IVAs (my last payment was 1st June, his 1st October). However, we have not yet received our Certificates of completion and have been told this could take some months!

We have recently put our house up for sale as we are now separating, & have asked for our IVA company to remove the restriction from the land registry. They have agreed to do this & say we will receive notification of this in 7 - 10 days.

My question is, will we have to pay any profit from the house sale into the IVA due to the fact we've not had our completion certificates yet?

We expect to have around £8000 profit after fees, which we were planning to split so as we would both be able to set up home separately somewhere new.

If the IVA company would take this, we won't be able to sell and will have to wait for our completion certificates - which would be hell for both of us!

Can anyone advise on this?

Thank you.

debtfree2016

Hi rmah, as I understand it the only asset your IVA provider will be after is and PPI refunds that come up in the future.

rmah

Thank you for your reply.
So you think they won't go after any profit from the house sale, even though we won't have our certificates of completion at the point of sale?

debtfree2016

Do you contact them by email ? They can send you confirmation via email that the IVA has finished. If they have agreed to remove the charge on the property then that's pretty much sorted.