IVA and joint mortgage

ng35

Hi I’m hoping someone can help me. I’m in around £50,000 worth of debt. A Lot from when I had a business which has failed. I’m thinking an IVA is the answer however....please don’t judge me.....my husband does not know how much debt I’m in. I don’t want him to know about the IVA but we have a joint mortgage which we’ve paid off about 100k. Will they take the house? I can’t have him finding out about the trouble I’m in

fatbelly

Hi

I primarily lurk around here because of my speciality of DROs and for some reason mse puts these two insolvency solutions together, even though they are vastly different. However...

IVAs can be viewed as insolvency for someone with  an asset to protect so you are right to be looking at this as an option.

I would say to do you research - I will post a debt camel link in a min, and then approach your husband with the problem and the solution. He will have to know about it because you do need to be stable at that address for 5 years (possibly 6) and there will be a restriction on the land registry entry which he could see if he looked. Please keep posting.

https://debtcamel.co.uk/debt-options/iva/
https://debtcamel.co.uk/debt-options/guide-to-ivas/
https://debtcamel.co.uk/choose-iva-firm/

Debt camel recommends talking to an independent advice agency like National Debtline as a first step