www.iva.co.uk

hi all - i recently posted asking some questions about joint mortgage and the break up with my partner. things have now gone a bit worse! my IVA company has only just sent me an RX1 form after 6 months of being accepted into an IVA. my partner is refusing to sign it. she has also been to the bank to try and get my name off the mortgage (i have consented to this) i havent spoken to her as yet so i dont know the outcome. if the bank have removed my name and the RX1 form is not signed and returned to my IP, will my IVA fail? what would be my other options? i havent yet contacted my IP to let them know what is happening but i will be doing tomorrow (thursday 9th April) - sorry to mither people when they have worse problems than me!

This is a difficult one - as these forms should ideally be signed prior to or at the date of your creditors meeting. This is more of a problem for your IP to deal with, rather than you.

Best to check with your own IP to see what they need to do in this regard - it will be dependent upon whether the property was included in your IVA and what equity release provisions are contained in your proposal.

melanie, thanx for the info - the property was included in the proposal as it stated that in month 54 a revaluation would need to be carried out on MY half of the equity. it also stated that the proposal had my partner's consent by letter but my IVA co stated that it didnt matter for the purposes of applying to court, it was just a standard paragraph in the proposal. she didnt provide any letter of consent but stated to me that it was ok to go ahaead so long as she wasnt affected (this was reiterated by the IVA company that her salry, savings etc would not be included or gone after should i default) i can still afford the current payments so i shouldnt default with arrears - i just dont want it to fail because i dont co-own a house any more. financially i can afford to rent somewhere and pay my IVA based on the rent being the same as my current half of the mortgage!

You must discuss this problem with your IP flaps1 as soon as possible.

thanx david - i will contact them today