IVA, pending divorce and family home. Help.

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jamie573
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by jamie573 » Sat May 06, 2017 8:08 pm
I had to take out an iva following the separation from my wife we ran up a fair bit of debt whilst we both returned to university as mature students nievely they were in my name as i had good credit history. Last year we split with my wife refusing to accept any of the debt. I moved out into rented accommodation.She has now filed for divorce and wants to sell the family home ideally i want to buy her out and move back in but obviously cant get a loan. What are my options?
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Foggy
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by Foggy » Sat May 06, 2017 8:17 pm
If you are still in the IVA you will not be able to get any loan to buy her out. Unfortunately, if you sell whilst in the IVA, your creditors will be entitled to all but 15% of your share of the equity, up to the value of 100% of the debt, plus fees and possible statutory interest.
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