would creditors be able to use my assets?

[jayne4]

I have recently found out about my boyfriend's financial situation. I do not live with him and never have, he is currently living with his parents after selling his property last October. He has taken advice and has entered into an IVA and is waiting to hear whether this has been accepted.

Should it be accepted, how would I stand if he moved into my house? I have owned the property for 15 years and have known my boyfriend for just over a year. He would not be able to contribute to any bills/mortgage due to the IVA and everything would be in my name. I understand that if he fails tomeet a payment bankruptcy would be the next step. Under any circumsatnces would creditors be able to use my assets to clear his debts?

[Viki.W]

Hey jayne4, welcome to the forum. Not at all, your assets and house are safe. However, he will have to inform his IP that he is moving in with you, his income and expenditure will no doubt change. You say he will not be contributing to the household bills but surely he will have to contribute something. Please wait for the experts to comment. Viki X

[MelanieGiles]

Your house would not be affected Jayne, but this might affect the amount he pays into his IVA if his costs are lower or higher by sharing with you.

[Lisa2009]

If he now lives with his parents, does he not pay board and lodgings to them? If he did and he moved in with you, surely that could then be paid to you??