Will my share of house go into ex's IVA?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1

maria858

User avatar
Posts: 1
Joined: Sat Oct 16, 2021 1:03 pm

Post by maria858 » Sat Oct 16, 2021 1:03 pm
We have just sold house my ex has IVA has given solicitor name does at the end when mortgage fees and solicitor fees does the Iva come out my share

kallis3

User avatar
Forum Expert
Posts: 76941
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Sat Oct 16, 2021 1:39 pm
It will be classed as a windfall and will have to be declared to your IVA. If you can pay your creditors 100p in the pound plus fees and possible statutory interest then anything left over will be yours.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

User avatar
Forum Expert
Posts: 33094
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sat Oct 16, 2021 8:12 pm
To be clear: Ex has an IVA and you do not ? If this is so then his IVA will take his share of equity, after fees and mortgage redemption and your share ( presumably half) should be left alone and paid to you.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

luluj

User avatar
Forum Expert
Posts: 11235
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Mon Oct 18, 2021 2:20 am
I agree foggy - that's how I read it too. The OP should not be impacted by the same of house and her ex's iva.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”