Moving house but husband has IVA

C9329

wondering if anyone can help. I’ve recently found out my husband has been in an IVA for almost 5 years. We own a home together (with a mortgage) and really need to move for more space as we’ve had 2 children since he started the IVA. However the debt is a lot (60k) and as we will only have one more year until the IVA finishes we would be silly to settle it early as it will still be on his credit file until 2025 anyway which will affect any mortgage application. Of course we cannot sell the house without him having to pay out windfall to debters.

however is there any way around this for me? I think it’s unfair that his mistakes affect my life and where I and my children have to live! We have asked the IVA company if we could rent out our house and rent somewhere else ourselves but they have said no as it could affect our ability to remortgage (even though the bank would never agree to remortgage our house with his IVA on file anyway..) does anyone know if legally they can refuse this option? Anything else I can do to get out of here that isn’t fraudulent or do I need to just sit it out? I assume it’s illegal to put the house in my name and sell it so that we are free to rent in my name elsewhere? 

Any advice much appreciated!! Thanks 

fatbelly

Usually an IVA is set up for 60 months and somewhere in those last 12 months you are asked to remortgage.

If that is impossible, then the IVA is extended to 72 months.

Has he overcome the remortgage hurdle and got the extra 12 months? Or was it set up differently?

Yes there is an option but it's not a great one. I'll link to a Debt Camel article.

https://debtcamel.co.uk/perinta-loans-end-iva-early/