I've recently had an allegation against me from the police and if convicted as I expect to be it may result in me going to prison, either way I expect to lose my job and will in all honesty probably have difficulty getting another and lose everything.I just need to know what will happen to my IVA?
The IVA is just mine but I am married with two children, I've just completed my first 12 months and in in the process of my 1st annual review. My wife and I have actually managed pretty well and we could for the first time since we can remember see some light at the end of the tunnel until this bolt from the blue!
The total debt I had was approx £43k and we've been paying back £515pcm plus some overtime up lifts so there's about £36k left. Our home was valued when I started the IVA process at £160k with currently £120k left on the mortgage, I know we will have to sell up, so would my wife get half of any profit?
We are both absolutely devastated by this turn of events when things were going so well, and I have no where to turn to can anyone please help!
Probably best to have a frank discussion with your IP directly(not a member of the call centre staff etc etc,but your IP themselves given the nature of the issues you are about to have).
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