I'm in a iva for the last 16 months & my soon to be ex wife has just told me today she's giving the keys back to are house to the mortgage company I think there is goin to be a short fall of about 30000 my iva is for 46000 at the min never missed a payment do you think I can put this in to my iva it was in negative equity when I started it .. Thanks
The debt will be captured by the IVA but there may be problems now that the overall liabilities have increased. It will likely require a variation due to the increase in debts and reduction in dividend. Speak to your own IP.
Bit more help please ... The ex has give keys back now. I have a mortgage for £1001000 & first plus loan on house for £ 56000 think I'm goin to get over the mortgage but first plus in not goin to be payed when can I see if I can put this in my iva do I have to wait till they sell house to see what the short fall is or can I ring (gt) now to try to see if I can interest stopped now ..... Help me please thanks
I doubt if interest can be stopped yet. I would advise keeping your IP in the loop as soon as possible. Although they probably won't do anything yet at least they will know what is happening and can advise on specifics.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
If the loan is not being paid there is little FirstPlus can or will do if the property is being sold anyway. The shortfall would be captured but it may still require a variation as the debts will have increased. You may also need the consent of FirstPlus as they would have to release their charge for the sale to proceed unless it was sold by the mortgage company.
