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erinlorien
- Posts: 5
- Joined: Tue Jul 13, 2010 1:06 pm
- Location:
My husband and I went into a joint iva last year. He has recently left me and my two kids and I was wondering can I now opt for a single iva and use my wage, tax credits and maintenance from husband to pay for it. Im really worried that my only other option is bankrupty and I risk losing the family home (which is mortgaged and no equity to release. Can anyone advise?
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plasticdaft
Forum Expert
- Posts: 9562
- Joined: Wed May 21, 2008 12:45 pm
- Location: United Kingdom
If your home has little or no equity in it you may be better advised to look into the bankruptcy route. Your home wouldnt be at risk due to there being no point in forcing a sale of a house that wont cover the cost of repaying the mortgage. Are you able to keep up the mortgage payments? Try discussing your options with your IVA firm 1st and see what they say. They may be keen to keep you going on the IVA but I would seek advice from elsewhere.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
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http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=30739
Hopefully yesterdays topic helped?
I would definitely speak with your IP direct to get case specific advice.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
