Forum Home» Bankruptcy & Living With It» IVA & DRO

Family buying a home in my name and IVA - please help

New Post Advanced Search

Family buying a home in my name and IVA - please help

2 replies 153 views
coffeeandcake4coffeeandcake4 Forumite
2 posts
Hi, I’m new to the site so unsure as to where to post, however I’m looking for some advice.
I'm in the final 12 months of my IVA and have separated from my husband which has left me with nowhere to live. A close relative has said they would buy a property, in my name, which I will pay rent on at the current market rate. Will this affect my IVA? What should I do? 
Thanks in advance! 

Replies

  • foxy-stoatfoxy-stoat Forumite
    6.4K posts
    Fifth Anniversary 1,000 Posts Name Dropper
    ✭✭✭✭
    You should ask this relative to give you enough money so you can apply for a full and final settlement amount and close your IVA early.

    Then they are free to buy you a house with their cash for you to pay them rent...not sure how that works in the real world though or why they would put it in your name.
  • elsienelsien Forumite
    23.3K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    If you are paying rent to your family member as your landlord, can they evict you from a property that's actually in your name? Just wondering if it would be worth checking on the housing board for any complications aside from the IVA  purely from the rental point of view. 
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support