www.iva.co.uk

I have a charge on my partners property for a large amount of money, other than the mortgage, the other debts are unsecured. He has applied in the IVA to develop the property into 4 and pay me on completion and sale of the first property. I do not wish to wait and want the property sold as it is. Can i make him go bankrupt ?

Hi mandy and welcome to the forum

You can only petition for someone's bankruptcy if the debt is unsecured. If you were to revalue your security in the property, you could make your debt partially or fully secured, but that would hardly be sensible as you could risk being repaid in full.

Hi Mandy

It sounds like there's a lot more there between the lines, but roughly -

You would have to issue a statutory demand for the unsecured debt, if it was not paid or challenged you could file for bankruptcy.

Alternatively if you have a charge against the property you may be able to force a sale on that basis depending on the nature of the underlying agreement.

It's a very complex area and your first port of call ought to probably be a solicitor.

Best Regards