Hello.
Could you possibly tell me where i would stand at the end of an Iva if the Iva company wanted me to re-mortgage and the Mortgage lender would not allow me to do this due to the fact that my salary would not be able to meet the new mortgage payments. what would happen then. as my current mortgage is an interest only mortgage and it's only in my wife's name and she has currently no means of paying it off.
You state that your name is not on the mortgage - check the paperwork to see how this was identified.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Foggy.
You say it may be an extension on the Iva. at the end of the extra yr could they ask me to try to remortgage at the end of the extra yr would you know.
If you get an extension, this is in lieu of equity -- the property will be excluded.
If the IVA is in your name and the property is actually owned by your wife only, I am doubtful that it should be included in the first place. Some IPs would argue that you have could acquired an interest in the property -- but that would be for a court to decide ( as in matrimonial proceedings) not for the IP -- and difficult to substantiate.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks for that.
I met my partner now my wife and i had the most debt and i am currently unemployed so as my wife was earning enough to cover her and myself i couldn't claim dole. so they allowed us to take a joint Iva but the house was and still is in her name.
long story re wife..lol she's my ex and we got together.
Just checked your blog out. It looks like foggy's world is clearing up nicely. i;m going to dig out my Iva itinerary and have a look. it's about 2 inch thick. I'm with Debt free direct.
