Ive been in an IVA since October 2006, I was living at home and still am. I have a fiance and we wish to get married and get a place together before my IVA is complete. Could anyone please tell me if moving in with him, getting a mortgage or even getting married will implicate him in anyway. We are very worried by this.
Speak to your IP as I think you'll have to do a new I&E form. Will the new house be in joint names or will you be classed as a tenant?His contributions to the household will be taken into account just to work out a fair percentage for your outgoings.
Getting married is not a problem with your IVA, although you may have to curb the expenses for your big day! If you are living together, your fiancee can disassociate himself from your debts so that they don't affect him.
As for the mortgage, that might be a bit more of a problem as you will probably find that you would have to pay a higher interest rate. Of course it may prove a problem anyway with the economic climate being the way it is at the moment.
You can rent though, so perhaps that would be an idea for the immediate future?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
hi kelly & welcome from me too.i had a similar query regarding being able to have a house in joint names with my partner,as i have an iva & he doesn't. & as it was pointed out,if you did manage to get a mortgage together & your iva were to fail & you were made bankrupt it would affect your partner (or should i say husband to be ! ) x [:)]
The only way this may affect your fiance, is that he will be required to pay a proportion of the shared household bills in direct ratio to his share of the household income. These figures will be used to assess your disposable income at the time of your annual review.
Hi and a very big thankyou to everyone that replied. Unfortunately I am no longer with my partner. Due to certain reasons not just this one, we are how ever are staying friends. So thanx again for all your advice and support.
kelly.a wrote:
Hi and a very big thankyou to everyone that replied. Unfortunately I am no longer with my partner. Due to certain reasons not just this one, we are how ever are staying friends. So thanx again for all your advice and support.
Ack thats too bad,plenty more fish in the sea though.
Good luck.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
