My ex husband took IVA and i have paid all the mortgage, can i fight this

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mary481
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by mary481 » Tue Sep 05, 2017 7:05 pm
my husband has today informed me that he has taken on a iva i was wondering weather i could fight this i have not yet received the paperwork but he says it on his way. we have been separated 6 year and a half years i have paid the mortgage in full since then he has not paid anything we had the mortgage together a year before we split can he do this please will it affect my credit file he pretty much told me sign or ill go bankrupt
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Foggy
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by Foggy » Tue Sep 05, 2017 7:19 pm
It is possible, with the help of his prospective IP and agreement from the creditots that the house is excluded in return for him extending his IVA by 12 months ---- in all probability, as he would not be able to release any equity without your agreement (and, as things currently stand, he would find it almost impossible to release equity even with your agreement) sohe would get the 12 months added on at the end anyway, so it would be no added burden for him.

Unfortunately, if he is in dire straits, bankruptcy might ensue if he can't bail himself out with an IVA and the property would be put in jeopardy anyway .... again there is a slim possibility that you could persuade the Official Receiver that your ex has no real interest in the property (although, on paper he does) ... but I would not like to depend upon such a slim arguement.
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luluj
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by luluj » Tue Sep 05, 2017 9:16 pm
Difficult circumstances - hope the advice offered provides you with some direction. It does not seem fair to me but ultimately you could be impacted by it unfortunately x
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Michael Peoples
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by Michael Peoples » Wed Sep 06, 2017 8:18 am
You should consider independent legal advice before you sign anything. What he may be looking for is a restriction against the property and your consent to remortgage. However in most cases you do not have to do this and his IVA will not be failed but it is important to protect your position.
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Lisa Thomas
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by Lisa Thomas » Wed Sep 06, 2017 1:53 pm
You can vote against the IVA if you are a creditor but if you are not then it is up to him what he wants to do with his debts. You will need to consider any joint debts you have as you may be asked to pay the whole amount due to his inability to pay part or all of his 'share'.

What happened to the property in the divorce proceedings?
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