I hope someone can help. I have been separated from my wife for 10 months now after a very short marriage of 3 months... I left the fmh she is still living there, we have no children and she has moved in a lodger to help pay the mortgage. Her salary is higher that mine. I am not contributing to the mortgage or bills I am renting a flat on my own. We have a joint mortgage and also a unsecured loan with Northern Rock. She has recently entered into an IVA I knew nothing about it. The mortgage company are now chasing me for the unsecured joint loan, she is still paying the secured loan. I would have thought that the mortgage company would have needed my consent for her IVA as I have been told that they take her share of the equity at the end if there is not any then we have to re-mortgage the property. I want my name off the mortgage. I dont want to have to re-mortgage to help her IVA. Where do I stand. Can someone throw any light on this for me???? [/font=Arial] [/blue] [/size=4] [/size=6] [/size=1] [/size=6] [/size=2]
You should post this on the IVA forum at http://iva.co.uk/forum/ as there are IPs (Insolvency Practitioners) who organise IVAs so will know exactly how the system works and what options you have.
If will have the details of her insolvency practitioner. You should speak to them as I think they will have needed your permission before her IVA as you are joint owners.
It may be that she doesn't have any equity to remortgage so they will just extend her IVA. But this does affect you, so get in touch with them.
As gettingoutofdebt has mentioned, you could always try and get some answers on the iva.co.uk forum.
My ExPartners IVA and me!!!!!
Posted - 23 September 2010 : 21:11:46
I hope someone can help. I have been separated from my wife for 10 months now after a very short marriage of 3 months... I left the fmh she is still living there, we have no children and she has moved in a lodger to help pay the mortgage. Her salary is higher that mine. I am not contributing to the mortgage or bills I am renting a flat on my own. We have a joint mortgage and also a unsecured loan with Northern Rock. She has recently entered into an IVA I knew nothing about it. The mortgage company are now chasing me for the unsecured joint loan, she is still paying the secured loan. I would have thought that the mortgage company would have needed my consent for her IVA as I have been told that they take her share of the equity at the end if there is not any then we have to re-mortgage the property. I want my name off the mortgage. I dont want to have to re-mortgage to help her IVA. Where do I stand. Can someone throw any light on this for me???? [/font=Arial] [/blue] [/size=4] [/size=6] [/size=1] [/size=6] [/size=2]
