What will happen to my house in an IVA?

Unlike with bankruptcy, where ownership of your home is passed to the Official Receiver or Trustee in Bankruptcy to release any beneficial interest (surplus funds) by whatever means necessary (including by selling your home), one of the main advantages of an IVA is that your house is protected.

However, you may be required to make payments into your IVA for an additional twelve months if you have more than £10,000 equity in your home.

See what are the implications of an IVA remortgage for more information.

You can read more about IVAs and whether they are suitable for your situation in our IVA section.

Debt Advice Foundation is a registered UK charity offering free, confidential support and advice on any aspect of debt, including IVAs. If you need to talk to someone about debt, please call the charity’s helpline on 0800 043 40 50 to speak to an adviser.

Related questions

What happens after my IVA finishes? What is a business IVA? What’s the best IVA on the market? What are the implications of an IVA remortgage? What happens if I don’t keep up the payments on my IVA? How does the IVA process work? What is the IVA register? Where can I find an impartial IVA forum? What does an IVA cost? How much will I have to pay into my IVA? Who pays the IVA fees? Will an IVA affect my credit rating? Where can I get UK IVA advice? What if my creditors don’t agree to my IVA proposal? How long does an IVA last? Does an IVA cover all of my debts? Who can enter into an IVA? Where can I get free IVA help? What is an IVA? Straight Talking IVAs

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