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Relationship break while in an iva and have a morgage together
ashp1984
Posts: 13
Forumite
Iam 3 years 9 months into a iva. I pay £75 pound a month. For 13k debt. Ive got a morgage with my ex partner and there is roughly 55k equity on the house. My partner refused to sign the rx1 form. When I first entered the iva
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Comments
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Partner is not obliged to sign anything.
What is your question?0 -
She wants to split the equity. We're do i stand0
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Assuming there is no charge or restriction on the house as the deed was not signed, if she is wanting her share of the equity, and you don`t have that kind of money floating around, then it looks as though you will have to sell the house.ashp1984 said:She wants to split the equity. We're do i stand
If that ends up happening, you may want to let the IVA fail, and opt to deal with creditors at a later date once your current circumstances become more stable.
Unless you can get the money elsewhere, from family maybe?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter2 -
Why would we need money. Can't I ask iva for a full and final settlement0
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I meant instead of selling the house.ashp1984 said:Why would we need money. Can't I ask iva for a full and final settlementI’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
Can't my partner release half of the equity to me0
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Yes, it depends who wants to stay in the property and who is moving out.ashp1984 said:Can't my partner release half of the equity to me
As the information is sketchy, I`m simply giving you generic answers at present.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
Yes your partner could give you half the equity if they can afford to pay the mortgage on their salary but this will have to go through the lender for you to be removed.0
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Ive moved out.
She said she will release equity to me. Just finding out. Cause iam in an iva0 -
If partner gives you your half of the equity, that is a sale of the house (a sale of your half to her) and the IVA firm will expect you to settle all the debts in the IVA in full, plus the IVA fees.2
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