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My wife and I are joint owners of our home, there is only 27,000 Equity in the house which belongs to my wife as I have removed my share of what was 54,000 equity via a re-mortgage some time ago. Would anything happen to the house if I went into an IVA. Also my wife has no borrowing but 2 credit cards, would her credit be affected by me taking out an IVA

Hi ajt and welcome to the forum

You would need to argue under what is known as marshalling, that the £27k you removed from the property was set against your share and that your wife received no benefit for it. What was the money used for.

Your wife's credit rating is likely to be affected by association to you.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk