www.iva.co.uk

Hi everyone,

I hope you can help me. I had my IVA accepted on 18th September and paid my 1st payment on 1st October.

I own a house with my ex although I no longer live there. He still lives there on his own and I contribute towards the mortgage. The house is on the market but it has been for a year now.

My problem is that he seems unwilling to sign the RX1 form. I took it over on Monday night and he asked me to leave it so he could read through it. He has just text me to say he wants to take legal advise before he signs it. I am really worried that he'll refuse to sign it and want to know how this will affect my IVA if this is the case.

Advise please!! Am very stressed!

Thank you.

Tracy x

Your ex cannot be made to sign the restriction and it should not be a failure of your IVA because of something beyond your control.

If there are funds to be entered into the IVA from the sale proceeds your solicitor can give an undertaking to your IP to do this on completion. The restriction is to protect creditors from the property being sold and the funds disappearing so a solicitor's undertaking should suffice.

Speak to your IP immediately and advise them of the situation as they will have full knowledge of your particular IVA and any conditions or modifications.

Thanks for the quick response. I have e-mailed my IP and waiting for him to call me back. The house is in negative equity so at most we are hoping to sell at a price to cover the outstanding mortgage with no profit whatsoever - it may cost us to sell at this rate!!

He's just being really awkward. The RX1 won't affect him at all!

Just worried in case it affects my IVA.

Tracy

He may be being awkward but if he does not know what he is signing he is right to take advice. I do not see how this will in anyway impact on your IVA.

This would have been better dealt with prior to your proposals being sent to creditors and the meeting called. I always get my clients to get these signed in anticipation of the IVA being accepted which does seem to work better. I do, however, agree with Michael that this is unlikely to be a deal breaker.