Reposession, divorce, IVA - advice please?

hd143

Hello

Any advice would be appreciated.

My husband of 18 months left me a year ago. I stayed in the property with my son from a previous relationship. Until August, he was makking the full mortgage payments, while I paid the £400 due for a joint IVA taken in out in Jan 05. He then stopped paying the mortgage and has returned the keys to the mortgage provider.

I have received a letter regarding a court date for reposession, 10th of November.

I have seen a solicitor and begun divorce proceedings (assuming he admits to adultery) but am worried now that the resposession proceedings will move faster than the divorce proceedings.

He has now agreed to contribute £200 towards the £400 IVA payments as he is not paying towards the mortgage.

I am seriously considering walking away from the property (into rented accomodation) as I cannot see an alternative to respossesion and the situation is affecting my health. I'm not sure if moving out is a wise decision though, and I'll also struggle to pay rent on top of the IVA payment.

The house has been on the market since Oct 07 and has been reduced by £25k without attracting much interest so I dont feel this is a likely solution. The price cannot go any lower as it will not cover the outstanding mortgage.

Any advice would be very much appreciated,

Thank you, H

RAS

Hiya

I would recommend that you talk to either NDl or CCCS - contact here http://www.moneysavingexpert.com/loans/debt-help-plan#help about your options.

Things are particularly complicated by the fact that you ex has returned his keys to the mortgage provider. That suggests he was not properly advised as to what he was doing.

If he goes bankrupt you become wholly liable for the joint unsecured debts, so you options may be limited.

if you post on the bankruptcy board, link just under the resources bar, the lovely folks on their can talk you through how to do this without getting yourself into a long term mess.

hd143

Thanks for the reply.

I don't know if he's planning to declare himself bankrupt as he does not communicate with me. He did not tell me he was returning the keys, etc.

When you say I'd be liable for insecure debts if he was declared bankrupt, do you mean the IVA?

Thanks, H

Quincy2104

Hi H,

Im so sorry to hear of your current situation it sounds very complicated. I can't offer any professional advice but im sure there are people on here who will be along to help you soon.

I would be tempted to just walk away from the house aswell, especially as it is affecting your health.

Love Q x