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Posted: Tue Apr 15, 2008 6:35 am
by julia_l
Hi there. I have a joint mortgage with my parents , and in the next few months they are going to embark on an IVA as they are heavily in debt. How will this affect me, as the IVA will not be in my name? Will this destroy my credit rating and if so for how long?
Posted: Tue Apr 15, 2008 7:04 am
by Lisa2009
It should not affect you greatly but beware, they will be asked to release some of the equity in the house towards the end of the arrangement.
Posted: Tue Apr 15, 2008 8:02 am
by debbiw
It may affect you, as I have just taken out an IVA, and my husband has no debts at all, but because we share a mortgage, he was refused an Argos card recently, because of my IVA... I have dissasociated myself from my husband, but have been told i cannot do so, as we share joint mortgage.