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Hello and thanks for asking for me.
If it has equity he will be forced to sell.
If it does not have equity, or very little, he wont be forced to sell.Can I clarify anything for you about this today please?
Sort of. No-one benefits from taking your home from you. Making you homeless disrupts your family, puts strain on your health and relationships, and puts pressure on your local council to re-home you. It is in no-one’s interest to see you lose your home.
That does not mean however that your home cannot be used to help you pay creditors. If you are a homeowner, you may be asked to release a proportion of any equity within it through re-mortgaging within the five years of your IVA. If you are in negative equity, your IP may wait until the end of the IVA to assess its value to give it a chance to increase.
Can I clarify anything for you about this today please?
correct. Does that clairfy?
No they cant. Its then dealt with in the IVA
Does that clarify?