My partner is currently in an IVA which has just over 3 years to run. Do you know if it would be possible for us to remortgage my property(sole name,plenty of equity)to pay off his IVA as this would allow us to get on with ur lives without worrying about it. We could afford the mortgage payments only if they would take his wages into account
I am sure that this is worth looking into - ask your partner's IP to provide him with a settlement figure so you can see if you could raise the amount required.
And usually the settlement figure will be a "discount" to the balance that is due under his IVA - from 10% to 15% - is the usual that creditors will accept. Good luck
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
