I have a joint mortgage with my ex partner

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Donna.ce

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Post by Donna.ce » Thu Aug 19, 2010 9:42 pm
I have a joint mortgage with my ex partner for £290,000. My ex partner is responsible forpaying the mortgage, however due to hgis financial situation changing for the worse he is unable to make the payments and i am not in a positiobn to pay them myself as I simply do not have the funds. The property is on the market for £290,000 but the realistic sellingprice would be £220,000. As the payments are not being made as we cannot afford them do I qualify for an IVA? My salary is £930.00 pcm and my outgoings are £850.00
 
 

Adam Davies

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Post by Adam Davies » Thu Aug 19, 2010 10:00 pm
Hi and welcome
An IVA may be able to help with any shortfall once your property is sold, along with any other unsecured debts that you have. However if you have no assets you mat be better to consider bankruptcy as a quicker and more cost effective option
Regards
Andam Davies
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