IVA and Charging Order B4

makingastart80

Hi all 

I have a debt from 2009 in my sole name from London and Surrey Car Finance.
They have put a charging order on the property and have passed the debt to Greenhalgh Solicitors to manage. They keep chasing me to put my payments up and asked me to provide bank statements and an expenditure form which is more basic then what an IVA company would use so is showing my surplus as £360.

I am literally about to receive the IVA paperwork but they said they are unable to include this particular debt but have included £100 per month towards it, eventhough Greenhalgh are asking for a review in 2 months to put it up to 150.

Where do I stand with this and if I don't keep rising my payments can I have an order of sale on my property which is jointly owned by myself and my husband?

Debt is worth £5k and the equity us around 10k

TIA 

fatbelly

The charge will be recorded as a restriction as this is a sole debt on a jointly owned property. There's a whole thread about this in the stickies - Charging Order? The Myth

An order for sale would be almost impossible in those circumstances. Don't be pressured to pay more than you can afford

makingastart80

fatbelly said:

The charge will be recorded as a restriction as this is a sole debt on a jointly owned property. There's a whole thread about this in the stickies - Charging Order? The Myth

An order for sale would be almost impossible in those circumstances. Don't be pressured to pay more than you can afford

Thanks fatbelly

I spoke to citizens advice but they've signed not to sign the iva paperwork incase the charging order want too much money and I don't have enough to cover the iva.

Its all so confusing 

fatbelly

Your £100 per month offer covers the debt in 50 months, which any court would find reasonable (a reasonable period is generally taken as 3-5 years).

I think CA have got this upside down. However, taking time out and seeking advice from reputable sources would not be a bad idea in case you are being missold an IVA, as so many are.

The unfortunate fact is that you could get poor advice from anyone these days so it's no wonder you find it confusing. Have you tried National Debtline?

If you wanted to tell us the amount of debt in the IVA, and the proposed monthly payment, we could give you a rough idea. We already know you jointly own property with equity.