Andrew is in an IVA, and his ex-wife has money in the house. She is asking for the money but the bank are unable to release funds due to his IVA. She is nothing to do with his debt, and he would like advice on whether there is anything that can be done.
He is a whole of market broker with experience in adverse credit and might have access to a product which can release equity as well as close the IVA early. This is, again, entirely dependent on a number of factors, not least the figures involved and will need the co-operation of the IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It depends what is meant by she has money in the house. If she is joint owner I think she might have to get a Court Order to sell it. If she is second charegholder and cannot get consent or priority form the Bank (presumed first chargeholder) I suspect she will also need a Court Order.
If she is simply owed money with no security I would think she is an unsecured creditor in the IVA...
