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Will my mom need to tell her husband of her debts if she goes for an IVA even though her name is not on the mortgage? Does this still have to be taken into consideration?

Hi
It is almost a certainty that your mum will be required to release some of the equity in the house and if so her husband will have to know.
How long has she lived there ?
Regards

Andy Davie
IVA.co.uk Spokesperson

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Hi Laura,

How long has your mother been married to her husband? If it has been for quite some time and if she has contributed to the mortgage the creditors could argue that there is some equity to be released.

Your mother does not have to tell her husband, however his income will need to be proven by payslips, a valuation will need to provided and a mortgage statement etc.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

Why is your Mum's name not on the mortgage? Is the property jointly owned?

And it is usually better for husband and wife to share their financial difficulties, as I am sure he will be very supportive.

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

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