I have Joined the forums today but i have been a keen reader for many months.
My question is this. I have 4 months left on my IVA and i am struggling badly to be honest.
I have a joint mortgage with my partner, and i am in a shared ownership scheme from which we only own 50% of the property.
does this mean i only have 25% of the total equity in the property?
Welcome Gingerkid. Not only do you have a 25% share on paper, but you will probably be unable to remortgage anyway as the Housing Association will not allow it. There might well be other conditions requiring you to pay over a percentage of equity to the Housing Association on a sliding scale.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Yes if you can prove you can no longer meet the payments they may look to ask creditors to vary IVA so that payments made to date are full and final settlement and waive the remaining 4. If you can though try your best to continue saving your disposable income in case they don't accept this and your IP asks you to pay it. It would be a shame to get this far then fail because of the last few payments. This is on the assumption your 25% interest in the property is below the minimum per the standard terms.
