Hi have a joint iva with my wife we are separating the house is linked to the iva I moved out but have being paying my half of the joint mortgage for the last eight months. We have been on a pay break whilst we try to sell the house, the house hasn't sold pay break coming to an end. Any advice please ?
A lot depends upon where you are in the IVA and how you get on with the soon to be ex.
You can either get the IVA's separated (it isn't a joint IVA but two interlocking ones)and each service your own. Work together to carry on the IVA "as is" until it is all done and dusted and you can start out with clean sheets, or see if the creditors will accept payments to date as a full and final (unlikely with equity on the horizon).
Have a full and frank discussion with your IP. This will be something they are bound to have encountered before.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
