IVA based on joint income now single

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Kate.w

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Post by Kate.w » Fri Jun 15, 2018 4:58 pm
Ok long story, i’m 3 years into a 6 year IVA. The IVA is in my name and I have no assets. However, the IVA was based on a joint income and i’m no long with my partner but still living in the family home (we have 2 kids together). My ex partner is allowing me to live in the house until the end of the school term and then he wants me out. Can anyone advise on what to do with the IVA? I can’t afford the £300 a month fees? Many thanks

Foggy

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Post by Foggy » Fri Jun 15, 2018 5:05 pm
Kate.w wrote:
Ok long story, i’m 3 years into a 6 year IVA. The IVA is in my name and I have no assets. However, the IVA was based on a joint income and i’m no long with my partner but still living in the family home (we have 2 kids together). My ex partner is allowing me to live in the house until the end of the school term and then he wants me out. Can anyone advise on what to do with the IVA? I can’t afford the £300 a month fees? Many thanks
From the marital point of view, I suggest you seek legal advice. Your ex cannot simply throw you out.

Do you jointly own the house as bankruptcy may be an option? Speak to your IP and do a new I&E. This may result in a lower figure being put to creditors for consideration. If there is simply nothing left to go towards an IVA payment, they may consider completing the IVA based on payments made to date.
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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