If my estranged husband enters into an IVA?

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pls

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Post by pls » Mon Feb 25, 2008 8:04 pm
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My estranged husband has run up credit card debts of £15k. Although I pay all the mortgage payments each month he is still on the deeds/mortgaqe at the present time. If he enters into an IVA will/could it effect my house? We have an 11 year old who resides with me.
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emma_t

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Post by emma_t » Mon Feb 25, 2008 9:36 pm
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Hi pls and welcome to the forum

I am not an expert and do not know the answer to your question, sorry.
A lot of the experts are at the frugal friends meeting tongiht, but hang in there someone will be along soon to answer your question.
Best wishes
Emma
Be positive & look after yourself, there are more important things in life than debts....

Best Wishes

Emma x
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size5

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Post by size5 » Tue Feb 26, 2008 12:31 am
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If he has an interest in the house then yes, it may be that it would affect any proposal. Unfortunately, you don't provide enough information to give you a definitive answer to your question, so you may be better off approaching a specialist directly.

Regards.
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MelanieGiles

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Post by MelanieGiles » Tue Feb 26, 2008 9:18 am
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Your ex-husband will be required to explore the possibility of raising equity against his share of your house during the final year of an IVA - which of course as co-owner you will need to agree to. You ought to take independent legal advice on your position, and maybe it is time to finalise your marital situation and seek an appropriate consent order with regard to your finances and jointly owned assets.

Would you be able to buy out your husband's interest in the property, and does he make any contribution towards the running costs or mortgage at present?
Regards, Melanie Giles, Insolvency Practitioner
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