worried im going to loose house through divorce and IVA

bilbodreams

Sorry you are going through this, only as an idea, can you get a lodger or foreign student to raise extra money? I believe you can get over 4000 pa tax free
Or perhaps would you be able to get an au pair so the child care is sorted whilst you are at work?
It must be hard for you right now, hope things will get better soon

bilbodreams

I ve just double checked and you can earn up to 7500 ponds tax free under the new rent a room scheme.

fatbelly

...but any increase in/other source of income has to be notified to the IP.

IVAs have advantages and disadvantages over DMPs. Hopefully the legal formalities will concentrate your ex's mind into not rocking the boat and seeing the IVAs through to completion.

In the grand scheme of things, the £129 per month, his £150, are cost-effective payments if they're dealing with over 30k of debt

sapphi2ndrow

Thanks Bilbodreams.... horrible time I've developed high blood pressure, have regular anxiety attacks and have insomnia. But.... there may be light at the end of the tunnel! I've been offered an unsecured loan! It will mean I can finish the IVA early and start building up my credit rating but mainly, because I will be off the insolvency register if the house ends up being sold I will keep 50% of the equity whereas my ex will be made to pay housing the his IVA. There of course is a downside th at it will take me 47 months to pay the loan back but if I get a windfall I can pay my load back earlier. I won't be able to take in a lodger as I live in a small 3 bed and have 1 boy and 1 girl. Thanks so much for listening to me! Xx

bilbodreams

Hope all goes well for you. Everything will pass :0) Pop by the the OS and debt wannabe part of this forum, the support is very good. Good luck OP