IVA and your home

So what happens to your home in an IVA?

Well, an IVA protects the equity in your house so you will not be required to sell it. The Insolvency Practitioner will make an assessment on the value of the equity in your property. Your creditors will want the assurance from you that you will release any equity that may be available at a pre-arranged time during the IVA. However, there are restrictions and as much as 25% of the equity in your home can be protected from being passed over to creditors.