Ex partner

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DW730

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Post by DW730 » Tue Jul 14, 2020 9:34 pm
Hi, just after a bit of advice. I entered into an IVA and it ended around 3 years ago now. Me and my ex partner entered one at the same time.

Me and my ex partner have been separated for around 4 years now, however, we have a joint mortgage and I’m paying the mortgage and living in the house. My mortgage company wouldn’t take me on my own as my credit rating was not high enough and there is no equity in the house to actually buy him out anyway.

My ex has told me tonight he is going in another IVA so I am assuming this is going to affect me as I was planning on selling the house in a couple of years?

Does anyone know the consequences of this? Can I still sell my house with him being in an IVA? Does it matter than I can prove that he does not contribute to the mortgage for around 4 years? Help!

luluj

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Post by luluj » Wed Jul 15, 2020 2:17 am
I think you will need some legal advice on this.
As you are joint owners I am guessing a restriction will be placed on the sale of the property during the iva and therefore it will impact you for its duration.

It does seem unfair that you have paid the mortgage with no support for 4 years now and would love to think there is a way out of you being impacted by his second iva.

Let us know how you get on
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Foggy

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Post by Foggy » Wed Jul 15, 2020 8:04 am
A possible work around -- if his IP is of the helpful variety --- if you can satisfy the IP that your ex no longer contributes to the mortgage and that there is no current equity anyway ( and the property market is unlkikely to boom over the next few years, so this might not change) that they exclude the property from the arrangement --- they may well add on the 12 month extension as a compromise.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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DW730

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Joined: Tue Jul 14, 2020 9:15 pm

Post by DW730 » Wed Jul 15, 2020 9:37 am
Fab! I’ve emailed a solicitor for a free half an hours session.... emailed my mortgage lender to see if there is anything they can do for me.

I will get in touch with my ex and see if he’ll tell who his IVA will be with them beg them not to consider my house.

Thanks for your help.

DW730

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Joined: Tue Jul 14, 2020 9:15 pm

Post by DW730 » Wed Jul 15, 2020 9:48 am
Ok, so he’s not telling me who his IVA will be with. Does anyone know a workaround on this. I need to get in touch with his IP before it all goes through I’m guessing?!

kallis3

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Post by kallis3 » Wed Jul 15, 2020 10:07 am
You can check on the Insolvency Register for the name of his IP but not until it goes through.
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Foggy

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Post by Foggy » Wed Jul 15, 2020 11:56 am
At the end of the day -- if he bullies this through, when they ask him to remortgage, simply refuse then, after paying his IVA for 5 years, it will fail for non-compliance. To place the restriction the IP will need your agreement, which you can also withold. However his respose to that could be to simply go bankrupt and, then the house could be at risk ---- although you could then have the same conversation with the OR.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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