can my creditors force me to sell

[Rudibo]

i have just entered into an IVA but i have just found out that my name was on the deeds on my parents house, 20 years ago i co-signed on a mortgage because at the time my parents were not earning enough money to get a morgage on their income, i have never contributed to the mortgae in anyway can my creditors force me to sell my third of the house

[MelanieGiles]

Hi Rudibo and welcome to the forum

You have some element of legal ownership, so take specialist legal advice on this position before proceeding with any form of insolvency procedure.

[Rudibo]

Thank you very much for your advice, However i have started the IVA and this had came to light when one of the creditors decideded to do a charging order on the property, but the charging order was applied for after the IVA was agreed, its seems that MY IP ( WILSON PHILLIPS) Did not inform the creditor so they continued to take steps by getting a judgement against me, i have been informed that the charging order has been stopped by the creditor but the judgement is still on my is that correct can i have that removed? My Parents have now taken steps to remove me of the deeds, i am paying 53p in the £ for my IVA and its very hard to live the way i am but i am determined to see this through.

[MelanieGiles]

If the judgment was made after your IVA was accepted it is invalid and your IP should notify the Court in which the order was made and the creditor concerned.

[Rudibo]

Thank you for the Advice, i have spoken to my IP and they will sort it out, I wish i had found this website sooner, I have another question In order to go into this IVA i had to give my car that i had worked so hard for.. Now the company i work for have now offered me an option of a company car or car allowance my question If i go for the Car allowance would i be able purchase/lease a car or should i go for the company car option

[MelanieGiles]

You will need to cost out the benefits of both options to see which is the cheaper option and then look to see how this is likely to affect your IVA payments.

[Adam Davies]

Hi
The car allowance will be difficult because of the credit check need for finance and your IPs permission.
The company car is your best iption,just be aware that your net income will reduce due to the tax implications.Be sure to speak with your IP if this is likely to affect your IVA payments.
Regards