Marrying someone with an IVA

Alady_2

Hello, my fianc!e is currently 2 years into his IVA, we live together with our daughter and my mother,
The IVA was arranged before he moved in but they have been informed of the change.
My mother and I co-own our house (no mortgage) I own 50% I also have savings.
I currently do not work as I am looking after our 2 year old full time.
We would like to get married but not sure how this will affect his IVA, we currently keep our money separate and are not linked financially in any other way.
Neither of us want it to take away from either my savings or the money in the house
Does anyone know or have any advice on how it may affect things?
Many thanks

fatbelly

Any effect happened when he moved in - the IP would have re-worked his expenses at that point to check the monthly payment was appropriate.

Marriage shouldn't make any difference to that.

PrettyKittyKat

Getting married won't change anything. Just because you are married it doesn't mean the IVA company can suddenly go after your savings/property.

Just be careful not to link yourself financially (such as a joint bank account) whilst his IVA is on his credit file so that your credit file isn't affected.

Annie35

It may be worth saying that if he contributes to the building (maintenance/renovation/extension..) he will likely gain an 'interest' in your property which maybe called in should his finances fail (bankruptcy) or if you split in the future. That's regardless of marriage really.

(& marriage has lots of benefits particularly with children & generally so I'm not poopooing it, just an area to look further into)

Minkym00

DO NOT allow him onto the title deeds until his IVA is finished. If his IVA fails and he made bankrupt then he would have a beneficial interest if he is on the title deeds.

In reality the OR would be unlikely to pursue it, especially if it’s a family home and you have kids, but it’s best to protect yourself.