Is this possible?

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emma p

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Post by emma p » Sat Aug 23, 2008 4:50 pm
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I have rrecently separated from my husband, we have a mortgage together and also a first plus loan. I was wondering if the following is possible;
Ex husband takes the house - I am willing to sign it over to him
I would like then to get and IVA for my half of the loan, along with my credit cards.

Is this possible?
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MelanieGiles

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Post by MelanieGiles » Sat Aug 23, 2008 4:55 pm
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Hi Emma and welcome to the forum

I assume that the First Plus Loan is secured on the property? If so, and you have moved out from the property, your unsecured creditors will not be happy to see you still paying the loan.

How much do you owe on credit cards?
Regards, Melanie Giles, Insolvency Practitioner
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LoneRanger

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Post by LoneRanger » Sat Aug 23, 2008 4:56 pm
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Hi and welcome.

If you were to take out an IVA then your ex husband would be chased for the full amount in any joint borrowing. If you provide more details about your debts inc how much and how many creditors im sure someone will be able to help you further.

If its just the one loan i dont know where you would stand on an IVA anyway
Steve.

IVA approved!
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Adam Davies

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Post by Adam Davies » Sat Aug 23, 2008 8:20 pm
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Hi
Worth remembering that all joint loans,secured and unsecured,are jointly liable,so you are both responsible for the whole loan and not just half of it
Regards
Andam Davies
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