Hi. My partner & I both have IVA's, currently live separately & each have mortgages but would like to get married/cohabit. Because of our financial situation we're not sure what is the best thing for us to do? Can anyone advise? My Partner has very little equity in his property but I have a reasonable amount in mine & also have my children living with me. Would appreciate some help as to what our options are
Hi
What would your partner do with his property if he moved in with you ?
Your disposable incomes would change and hence your payments into your IVAs
Regards
Wasn't this issue also raised in a post yesterday? Has this been posted twice - as I recall asking whether you could live comfortably in either of the properties, whether either of them had equity and if one would rent out easier than the other.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sorry, hadn't registered properly so wasn't sure if you got the question or where to find the answer. Yes my partner's property would probably rent out better than mine. Weren't sure if we would be penalised in some way? We are both struggling individually & if we have more disposable income between us won't we be expected to pay more therefore be no better off? Yes we have different IVA's with different companies
The spirit of an IVA is that you pay as much as you can demonstrate that you can afford to your creditors, so if your move results in cost savings you will be required to pass some of these on to creditors.
