My partner and I have split. He is in the IVA with me. I didn't pay the mortgage this month and paid the IVA but I can't do both. He has moved out and said he can't give me any money becaue he has had to find somewhere to live. I am torn between paying the mortgage and paying the IVA. I don't know what to do for the best! Help!!
IVA completed September 2014. Finaly debt free - final dividend 88p/£
you need to speak to your IP as soon as possible. It might be possible to take a payment break until your overall situation with you ex partner is a bit more clearer.
The main thing is to call them and let them know what's going on so that they can help you as quickly as possible.
I am sorry to hear about your split and I can only echo what has been said so far... you need to speak to your IP as soon as you can and explain what has happened. You also need to speak to your mortgage company and try to come to some arrangement to pay back the arrears.
Let us know how you get on.
Now managed by Jane Clack - Payplan Company Representative
I agree as well - I'd pay the mortgage at the moment and hopefully sort out a payment break with the IP whilst you get things sorted.
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I agree with everyone above - this is exactly the kind of situation that payment breaks are designed for so make calling your IP a priority. Also, I know it sounds harsh but if this is to be a permanent split and you are to sell the property or your ex-partner has equity in it you need to get a true valuation and idea of the equity now. If you are to continue paying the mortgage yourself you will have more of a claim over the property.
Also if you had an interlocking IVA then this needs to be reviewed immediately with your IP as it should now only include your debts and your disposable income.
Break-ups are awful in themselves but it makes it even harder when there are financial ties and pressures as well.
We're all here for you Suzanne100268 - let us know how you get on.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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The mortgage payment is keeping the roof above your head and therefore ought to be paid in priority to your IVA payment. Your IP can, however, assist you to look at a revised budget to see if your could perhaps manage to make reduced IVA payments until you get your finances sorted out. And a short payment break from the IVA ought to be fairly straightforward to arrange.
