But my IVA company insist I pay her payments for the rest of that year 2015 from June till November,
plus raise a final payment of £45,000 each. But as I cant now get a mortgage top I am having to sell my house.
Is this correct. Thankyou
Regarding this £45k each ... where on earth has that come from ? Are they talking about equity release ? If so and you are unable to remortgage, then the IVA should be extended by 12 months .... They cannot expect your wife to remortgage nor make payments from beyond the grave and this all needs sorting out by the IP.
To my mind they should put forward a variation to conclude your wife's IVA on payments made to date. Then your arrangement should be extended for 12 months in lieu of equity (as hopefully contained in your agreed terms).
Might I ask who you are with ?
They cannot make you personally liable for any outstanding amounts and have to view any decisions based on the legislation that is now in force.
The only way that I can see them making these statements is if the house was left to you and therefore you have come into an inheritance.
Either way I would seek legal advice if you are the executor.
The IVA should have terminated upon your wife's death and her estate should have then dealt with the shortfall to her creditors.
However this could impact o your joint assets.
Given the IP seems to have continued her IVA in error you/the estate/may actually be better off in continuing the contributions instead - the alternative might be that her estate has to pay the full balance of the debts.
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