Ex now has an IVA, can someone help with letting me know where I stand?

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by tracy225 » Fri Feb 02, 2018 10:37 am
Hello, my ex husband and I have recently divorced. We are still in financial settlement stage. Our property is in Sheffield. I live in Aberdeen with our daughter. His name is on the house, I applied for home rights caution. The equity in the house is £30,000.00. My ex husband is -£46,000.00 pound in debt, and has now got an IVA to pay his debts. He has offered to pay me £1,200.00 this frustrates me as it is less than equivalent of a months wage for me as well the fact that I worked for entirety of our marriage, even when he was out of work. Do I have the option to wait for him to pay of his IVA , would the value of the house increase in the sense of get a better financial offer? Also would I be liable to pay for mortgage payments if he missed any or IVA payments as none of the debts is in my name? Or can I still claim 50 percent of the equity/house as the way things are now? if not am I able to push for an increase in what he has offered me. Sorry I don't know much about IVAs as well as the fact I now have to represent myself next week as I can't afford legal fees now.
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by Foggy » Fri Feb 02, 2018 11:03 am
Regardless of the IVA you can argue in court that you have a beneficial interest in the house. If they agree, whatever percentage they award you is yours and will not go into the IVA. As long as he keeps up the IVA and mortgage payments, your share will increase in value along with the rest of the house.
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