Is my home protected in an IVA?
If I go through an IVA what will be the effect to my home?
If you are living in rented accommodation, there is no risk to your home in an IVA. You should however, check your tenancy agreement to ensure that the Landlord does not have a clause about tenants entering into an IVA.
If you live in mortgaged property, your creditors will want details of any equity that you have in the house. Equity is the difference between the value of your house and the amount of the loans secured against it.
As part of the IVA process, the Insolvency Practitioner will ask you to have your house valued. Your creditors are entitled to up to 75% of your share of the equity. You may be asked to release this money for the creditors benefit within the 5 years. This could be via a re-mortgage.
f there is little or no equity in the house at the start of the IVA, then you could still be asked to have the house valued in the 4th year of the arrangement and again up to 75% of your share of equity would be expected to be released for the benefit of the creditors.
IVA Menu
- IVA (Individual Voluntary Arrangement) Overview
- Starting an IVA
- IVA Monthly Payment
- IVA Pros and Cons
- IVA FAQs - Frequently Asked Questions
- Starting an IVA
- The IVA procedure
- What is an IVA?
- IVA Enquiry Form
- How to start an IVA
- Who can an IVA help?
- IVA's - Facts & how they work
- Benefits and Advantages of an IVA
- Who can an IVA help?
- IVA - Help and information
- How an IVA works
- IVA - Estimated timescale
- The IVA approval process
- The IVA criteria
- Bankruptcy or IVA
- IVA - What are the costs involved?
- IVA - The documentation required
- IVA - Download forms
- Sample IVA proposals for PAYE worker
- IVA - Guide to creditors Fees
- IVA - Standard Terms & Conditions
- Individual Insolvency Register
- IVA
- IVA lifestyle
- Debt free after an IVA
- Is my home protected in an IVA?
- Chances of IVA rejection
- Keeping my car
- Credit rating after an IVA
- Credit report and the IVA
- Professional accreditation in an IVA
- IVA conclusion
- IVAs and meetings
- Change in circumstances whilst in an IVA
- IVA benefits for creditors
- Failed IVA payments
- IVA Case Studies
- Benefits of an IVA
- Implications of an IVA
- After an IVA - the end of an IVA
- IVA Help
- Best Debt Solution
- Proposed changes to individual voluntary arrangements (IVAs)
- What happens after an IVA fails?
- IVA Guide Centre
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]