IVA- house sale almost completed

Lornadoone87

We have 90% completed our house sale. 

We are selling to pay off our debts.
Our Iva company are shocking- and never respond to our communications. We have let them know we are selling the property but they haven’t responded, we’ve stopped paying towards Iva in recent months, and with the equity made from property we are going to approach them (if they haven’t thrown us out of IVA) or our creditors and offer the full equity to pay off the debt. 

Should I give the Iva company one last chance to respond to us selling the home? So they can inform creditors? Or just bypass, her thrown out of Iva and approach creditors ourselves? 

When Ive searched for answers- bankruptcy is a common reaction from the IVA practitioner in this instance. All we want to do is pay off our debts with the equity. We currently rent a house so we’re safe in that aspect. The house we’ve sold had a tenant. 

fatbelly

My understanding is that you can sell but you are then liable for all the debts plus the IP fees plus interest.

https://debtcamel.co.uk/iva-sell-house/

sourcrates

Be very careful what you do here OP, you are an insolvent, and are currently bound by the terms of your arrangement, so you will be liable for the full cost of your debts, fee`s, and statutory interest, if you sell outright.

Its much better (for you) to go for the second option Debt Camel recommend in your situation, you have  to make your IVA company listen to you, if they won`t, make a complaint about your IP.

Don`t be too hasty to sell just yet.