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Husband declaring bankcruptsy in divorce
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Right thats that sorted time for a drink in the inn, and its Phil,s round:pThats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all ………….
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Does anybody know what the term IVA mean? in conjunction with bankrupcy?
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IVA is a lesser form of BR for want of a better explanation,
In simple terms you agree to pay as much as you can afford over 5 years then whtever is left is writen off
It is a way to protect an assett such as property but in reality most require you to release some equity at the end of it so doesnt always work out that wayThats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all ………….
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If someone goes BR do they still have to continue paying the debt? Do you think my husband will gain from taking this route? Thank you0
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The offical IS description is here http://www.insolvency.gov.uk/bankruptcy/alternativestobankruptcy.htmThats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all ………….
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If someone goes BR do they still have to continue paying the debt? Do you think my husband will gain from taking this route? Thank you
Unless you have surplus income then once BR you pay nothing more to your dept and as you said your ex has no job he wont have any surplus
They do however liquidise any assetts of value wich may mean his creditors get something but that doesnt usuall amount to much unless property is invlved and even then there may not be enough equity to be of benefit to the creditors
so in short if your ex has no assets he cares about or surplus income he gets away scott free as some would say so i would say he has a lot to gainThats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all ………….
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Can i ask OC do you know what i mean about equity and benaficial intrest in property and the relation between the two? Have you read up on it?Thats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all ………….
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That is why he has quit his job!!!! He wont care about the equity in the house. There is about 30K (half of that mine) but he'd rather see me homeless and lose his share than be fair. No I don't really understand about benaficial interest etc etc. Thank you bat. X0
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well it sounds as if you know your equity (but bear in mind its droppng at the moment) and your sort of right that your BI is half that But if you can prove you contributed more during the relationship to the upkeep of the household then you might be able to nudge that up in your favour
Does that make any sense?Thats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all ………….
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Just a thought did you have any intrest in the other assets he got rid of?Thats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all ………….
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