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Posted: Wed Sep 19, 2007 5:29 pm
by grossof
hello, i wonder if you could help me with a question. if was to go for IVA (if i qualify) would i lose my home? the house is in negative equity and i jointly own it with my ex partner, who has never contributed to it. i have a court order whcih states that my ex partner has to transfer the house in my name, but the deadline has come and gone and he has not done it. would we still both be liable since he has not complied with the court order yet? thank you!
Posted: Wed Sep 19, 2007 6:00 pm
by poppy84
I am in an iva & own my home & have no equity either,you get an allowance for accomodation eg a mortgage/rental
Posted: Wed Sep 19, 2007 7:29 pm
by iva.com
Hi Grossof,
Welcome to the forum. No, in an IVA you will not lose your home. However, you will almost definitely have to remortgage in the fourth year to release any equity that you have at that time.
If you are wondering whether you would qualify for an IVA you can check this by entering your details into the Analyser at
www.IVA.com. Alternatively, please enter details on your debts (who you owe and how much) and someone will be able to advise.
Good luck with finding the right solution for you.
Kind regards,
Terry Balfour
IVA.com
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