like to end both IVA’s

[HB632]

My partner and I have a joint mortgage of 153k.The value of our house is 200k.
I entered into an IVA nearly 4yrs ago. My own unsecured debt amounted to 43k and my partner and I had a joint unsecured loan of 27k.Therefore my IVA was for 70k although my partner continued to pay her share of the premium for the unsecured loan. I currently pay 370 per month and have a clause that in the 4th year the property is valued and at end of IVA I am required to pay 75% of my share of the equity or 12308(whichever is greater).
My partner commenced her own IVA nearly a year ago. She had unsecured debts of 26k but again the joint unsecured loan had to be added so her amount owed was 53k. She pays 405 per month and has to inject a further 5k in the 4th year.
We have a joint take home pay of 4200 per month.

We would very much like to end both IVA’s and come up with a more straightforward set of finances. Any ideas as to the best way forward for us ??

[catullus]

It's not altogether clear from your post what you're trying to acheive here although I suspect that you're hoping that somehow the two IVA could be restructured to end simultaneously and/or a F&F settlement.

You've got a number of problems in your way to acheive those objectives

1 You are too far in to your IVA to make an equity F&F settlement IVA because the requirement to refinance is nearly upon you and there's nothing I can imagine that you can offer the creditors that would add to your existing IVA.
2 Conversely your partner isn't far enough in to the IVA to make a F&F settlement credible. What's changed so dramatically since she first proposed the IVA less than a year ago?
3 The insolvency service has recently issued a technical bulletin that in future will make it harder to "merge" creditors financial interests together effectively to create one IVA. It won't stop partners presenting IVA's together, they'll just have to split out their financial interests more than now, and that's exactly what you now have.

In addition you're so close to completing your IVA that I don't think that you should put the succesful completion of it in doubt now (by for instance proposing a variation), unless for reasons that aren't clear from your post you think that you might not be able to complete the IVA.

[HB632]

Ok thanks,guess all we are seeking is reassurance that we are not missing an obvious way forward other than let the IVA's take there course