DRO partner has a mortgage

mollymoomoocow

Sorry 1 last question. This would be my response to the guidelines do you think that would be adequate to be approved for the DRO?

1. Do you own or have you ever been the owner of a property? No
2. Have you transferred a property to a third party, for example a spouse, civil partner or other associate? No
3. Are you married to the registered proprietor? Yes
4. If so, how long have you lived at the property? 5years
5. Did you pay a deposit when purchasing the property? No
6. Are you shown on the mortgage or on any subsequent charges? No
7. What mortgage payments have you made and for how long? £0
8. Have you ever claimed to own a property when applying for credit?No
9. Do you consider you have a beneficial interest in the property? No
10. If not, why not? I have never paid towards the property or for upkeep of the property, I have signed a forms from the mortgage company stating that any rights or interests that I the occupier have in the property now or in the future will be postponed and will be subject to the lenders rights and powers under the mortgage and not to claim any rights or interest 
11. Have you funded an extension or remedial works to the property?No

RAS

You'll find it a lot easier to talk to people about a DRO when the IVA is failed. Just needs patience. 

And it's time to save the emergency fund.

ManyWays

Those 10 questions are what the Insolvency Service says are guidelines the debt adviser should consider, you arent usually asked by the debt adviser to answer them in a list like that.

If you are, then for 5. Did you pay a deposit when purchasing the property? No I think you could usefully say more about where exactly the deposit came from, as this shows that it was "new money" your husband was getting, not from an account that he had been saving up and you may have contributed to. 

mollymoomoocow

ManyWays said:

Those 10 questions are what the Insolvency Service says are guidelines the debt adviser should consider, you arent usually asked by the debt adviser to answer them in a list like that.

If you are, then for 5. Did you pay a deposit when purchasing the property? No I think you could usefully say more about where exactly the deposit came from, as this shows that it was "new money" your husband was getting, not from an account that he had been saving up and you may have contributed to. 

That’s very helpful thank you

sourcrates

The IVA will take some time to fail, could be as long as a year, so there is no rush to do anything here.

I think when the dust has settled it would be a good point to take stock of your situation.

It`s more than likely at least some of your accounts will have been sold, or will be sold on to 3rd parties, finding out which accounts are enforceable would be a good start to proceedings.

Depending on those results, a DRO might not be needed.