I am 17 months into a 32 month IVA. Monthly payment £1000. I am up to date with payments but I have recently been allowed a 2 month payment holiday to assist me. I own two properties in joint names with my wife. One property is part of IVA and has RX1 restriction in place. My original IVA agreement states in one clause that the other property which is our family home is specifically excluded from the IVA. But a later clause added late in prep of IVA to satisfy one of my debtors HMRC states that form RX1 must be completed in respect of both our properties within 3 months of IVA being approved. It has only come to light at my 12month review that the RX1 form for the family home has not been completed and we are now being chased by the IP to complete it, with a Breach Notice issued requiring the RX1 completion by 9th June. My wife is saying that she did not see the clause requiring RX1 form on both properties and is now refusing to sign the RX1 form in respect of the family home as she says that there is a clause in the IVA stating it is specifically excluded from the IVA. What should I do in this situation?
This should have been dealt with at the time especially if your wife is not in an IVA herself. She cannot be compelled to sign but this does mean a variation will have to be called. HMRC could demand bankruptcy proceedings be commenced against you so your wife should possibly consider legal advice to protect her interests.
In my firm we always get RX1 forms signed by all relevant parties prior to the creditors meeting being called - although in your case I can see that the intent was to exclude the dwelling house, which was always going to prove difficult.
Given that you were required to do this within a certain timescale, your IVA is already in default and your IP is rather exposed for allowing this matter to run on unchased. Is there any particular reason which is bothering your wife about signing off the form?
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
In my firm we always get RX1 forms signed by all relevant parties prior to the creditors meeting being called - although in your case I can see that the intent was to exclude the dwelling house, which was always going to prove difficult.
Given that you were required to do this within a certain timescale, your IVA is already in default and your IP is rather exposed for allowing this matter to run on unchased. Is there any particular reason which is bothering your wife about signing off the form?
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
In my firm we always get RX1 forms signed by all relevant parties prior to the creditors meeting being called - although in your case I can see that the intent was to exclude the dwelling house, which was always going to prove difficult.
Given that you were required to do this within a certain timescale, your IVA is already in default and your IP is rather exposed for allowing this matter to run on unchased. Is there any particular reason which is bothering your wife about signing off the form?
The IVA pays 100p in the pound to my creditors. It includes the sale of the other property which currently has an RX1 restriction in place. My wife has agreed to pay her share of the proceeds of the sale into the IVA. She is therefore not keen to have our homw included in the IVA. She feels that she has comitted enough. At the time the IVA was approved HMRC requested the RX1 on our home as a last mimute requirement. At the time my IP said that he thought this was over the top but agreed to it in order to get the IVA approved.
It is not for your IP to make these decisions - indeed it is dangerous for him/her to do so as this is outside of their ambit. Whilst it may be projected that you return a full repayment to creditors, they expect to be protected in the meantime. You agreed that the RX1 would be executed, and failure to do so does represent a breach on your part. Did you discuss the need to execute the RX1 with our wife at the time the request was made?
I am 3 years into my IVA and whilst it said the same in my IVA agreement my husband refused also to sign the RX1.
I notified Payplan and they allowed me to sign it and return it with a letter advising my husband had refused to sign it as the IVA was not in his name.
This was accepted and I havent heard anything since so hoping there aren't going to be any further problems.
My estranged girlfirend of 20 years who is still on the land registry for my house (yep, gotta sort that out, just never got round to it) so they never signed any RX1 for my IVA on my house.
The restriction was placed on the house, I vaguely recall paying for a registry report after the iva was in place so the process does not need all the owners of a property to agree the restriction being placed on the land registry as it was there plain to see.
That's what happened with me anyhow legal/illegal no idea.
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
