will creditors be able to sell my wife's house

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mike.g

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Post by mike.g » Tue Jun 03, 2008 3:23 pm
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my business has recently folded and i find myself owing a lot of money, however i financed the business on my share of the collateral in the house. will creditors be still able to sell the house if it now soley belongs to my wife?
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cfnc

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Post by cfnc » Tue Jun 03, 2008 5:31 pm
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Hi and welcome,

A few questions

Did you secure the borrowing on the house, if so then an IVA is not possible.

Do you still live with your wife, if so then you will have a beneficial interest in the property and a four year equity release will be required.

Do you have a regular income as this will be needed to propose an IVA.

If you could post a few more details then an expert will be able to reply.

Kirsty
Kirsty
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