Joint IVA ex partner threatening bankruptcy..desperately need advice.

Matey_Bubbles

Hello, any advice would be greatly appreciated. I bought a house with an ex partner a while back, we got into financial difficulty and stupidly I agreed to a joint IVA...I say stupidly as although it was a way to clear my debt we shortly after agreeing to the IVA split up. I made life easy for her as she had met somebody else and allowed her to leave and I moved back into my parents in order to afford the mortgage payments on my own as I wanted to keep the house. I wasn't able to take her name off the mortgage due to the amount owed on the mortgage and my wage and also because I have this IVA which I think the house is attached to. I have since moved back into the property and my ex is now becoming increasingly intolerable and making my life extremely difficult. She was asking for her name to be removed from the mortgage which as I stated earlier was not possible,I haven't asked her for any money and have just got on with my life and worked hard to keep the house on, yet now my ex partner is sayingthat her circumstances have changed and she can no longer pay her half of the joint IVA and is claiming that she will be made bankrupt unless I pay her half!

My question is if I am making my IVA contributions and my mortgage is being paid in full every month will her failing her part of the IVA agreement and impending bankruptcy cause me to lose my home which I've worked damned hard ploughing money into for 4 years whilst she was only there just over a year and doesn't contribute anything to the mortgage and is only on it in name? also would her default on IVA payments and impending bankruptcy entitle her creditors half of the house even if she hasn't paid anything to the mortgage for 2 and a half years which I can prove?

I'm at my wits end with worry over losing my home and could really use some help and advice. Thank you for taking the time to read this.

rebeccatom

I think if I were you I would call the IVA company and explain what is happening. They will have come across this before I am sure and will be able to advise you of the best outcome.

Good luck!!

UpToMyNeckInIt

Hi MB,

Sounds like you and the ex have an 'interlocking' IVA. I understand that, whilst it is tricky, this can be split into 2 individual plans. You will need to discuss urgently with your IP.

best of luck.