My husband has left me & left me to deal with the joint IVA, Secured Loan & Mortgage, I have decided to proceed with Bankruptcy. The house will be repossessed and I believe I will be liable for any mortgage shortfall. Could you please confirm if that is correct? If so what happens if I am not able to pay it?
There is no such thing as a joint IVA. You really need to speak to your insolvency practitioner and get them to seperate your IVAs. They will tell you whether you can carry on with yours. You will need to complete a new income and expenditure.
If the house is repossessed, the shortfall might be able to be included in your IVA, or if you do choose bankruptcy, it will be written off.
Your husband will be chased for the full amount of any joint debts.
Have a word with your IP who will be able to guide you.
My husband has left me
Posted - 15 March 2011 : 01:26:37
