Separated from ex who is on an IVA

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demelza
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by demelza » Thu Apr 05, 2018 10:18 am
My husband and I separated 8 years ago and since then he hasnt played anything towards the house we jointly own. We made an agreement for this to happen. In 2016 he entered an iva but had to put it in writing that situation with the house so that the iva couldn't take it. I was unaware of this via and had to sell my house due to my financial situation. On completion my solicitor was ordered to pay the iva company 51700.00 for my husband's debts/iva. Some of the debts were joint and have been taken by the iva company. On trying to sort my debts out now I have found out that not one debt has been played by the company and the company has told my ex husband that they do not have to give him a timescale to settle the debts? The house was sold in April 2017. I would like to know if the iva company firstly should have gone him an iva in the first place, secondly can they take half of the assets from the sale of the house and thirdly can they take this long to pay off the debts owed. Thank you
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Foggy
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by Foggy » Thu Apr 05, 2018 10:39 am
demelza wrote:
My husband and I separated 8 years ago and since then he hasnt played anything towards the house we jointly own. We made an agreement for this to happen. In 2016 he entered an iva but had to put it in writing that situation with the house so that the iva couldn't take it. I was unaware of this via and had to sell my house due to my financial situation. On completion my solicitor was ordered to pay the iva company 51700.00 for my husband's debts/iva. Some of the debts were joint and have been taken by the iva company. On trying to sort my debts out now I have found out that not one debt has been played by the company and the company has told my ex husband that they do not have to give him a timescale to settle the debts? The house was sold in April 2017. I would like to know if the iva company firstly should have gone him an iva in the first place, secondly can they take half of the assets from the sale of the house and thirdly can they take this long to pay off the debts owed. Thank you


They usually have to pay dividends to the creditors according to the agreement and conditions in the IVA .. usually a quarterly or 6 monthly dividend. While the IVA is active the full debt is owed and it is only written off at the end. As for joint debts, these will become your sole responsibility and you will be responsible to make payments and pay the debt, less, in due course, wat is paid through the IVA.

Should they have put him into an IVA in the first place ? Impossible to say without the full picture, but notyhing you have mentioned would stop them.

In law, while you are both on the title deeds to the property it is assumed that you own half each of the property, and, therefore, the equity. I do not know what sort of agreement you signed, but, unless it was a court order, it would be unlikely to change that assumption without actually going to court.

When was this IVA started and which company provided it ?
redboxtree
Posts: 118
by redboxtree » Thu Apr 05, 2018 2:03 pm
Sorry - I generally have no sympathy for IVA companies but based on what has been stated it seems that your ex has let you down.

The IVA company is stuck in the middle.
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