Ex bankrupt and I'm on IVA HELP!!!!

Autumnleaves21

Hi
I'm desperately seeking for advice.
Ex husband and I have been on individual IVA and 1 year into it we separated and a year after he declared himself bankrupt and lost his job.
We have a house in joint name to which I'm paying mortgage and a joint secured loan on the property which I'm paying monthly.
Now the bankruptcy people contacted to say there s only 10 months left before they start proceedings on the home or I could buy his share for 35000. My family would help a bit of money and then would it felt my iva.
They have already extended 1 year to pay iva due to failure to release equity and had arrears when separated from husband so added 1 more year for that. Will me buying his share from gift from my family effect my iva?
I can't afford full 35000 and bankruptcy people not agreeing to any less as ex husband owe 35000 and equity of 82000 in home and 41000 is his share.
Can they take us to court and get 2 kids who are minor and me out of the property.
What if I agree to pay and pay what I can afford for eg 20000 and can they still start proceedings. I've no arrears in mortgage. Please help with any advice. I'm so stressed out and making myself sick.

fermi

Even on a family home I believe there is only up to a year from starting, or considering staring proceedings, where the rights of the ex partner and children will be seen by the courts as outweighing those of creditors and the estate. After that, although unusual, an order for sale/possession could be sought as far as I know.

I'm not that hot on the properly side, so others can probably suggest how and what can be negotiated on up until that point.

I'm sure it can be sorted out one way or another though so that you and your family are not disadvantaged.