www.iva.co.uk

Hi there, my father in law is in serious debt. Before we knew how badly in debt, two years ago he signed his house over to us so we could get a mortgage for him to pay off his debts. He did not use the money wisely and did not tell us how far in debt he was. We now find out he is 165000 in debt in his name, his wifes name and my wifes maiden name. We have taken advice today, which threw up a number of options and questions, one of which is :- if he took out an iva would the house transfer be reverted. I have a million other questions but this one will do for a start. Andy

Hi andrew and welcome to the forum

Your case is complex and probably too difficult to advise over a forum to be honest - as we would need to know a lot more information which can be difficult to reproduce in a brief snapshot.

I suggest that you seek professional advice from an insolvency practitioner as a matter of some urgency given the quantum of your father's debts. If the house transfer was effected at full market value, it is unlikely that the transcation would be reversed.

Hi Andrew

as Melanie suggest this sounds like a complicated and sensitive case. May I suggest you give Melanie a call tomorrow to get some free practical advice.

Please review her feedback both here on the forum and on www.iva.com. You could do incredibly worse and not a lot better.

At least you will be able to sleep after the call and your father will know what he has to do to get his life back.

take care

Andrew,

I have received your login details by accident!

You need to check what your proper email address is.

I am also receiving a lot of price drop tv that I assume are yours also (for Caroline).

Please sort out.

Andrew, Halifax

Hi andrew halifax
my email is fine, price drop nothing to do with me
andy j