Complete Mess!!

[Tracey]

Hi,

I am two years into my joint IVA. Me and my partner split up last June and we have continued to pay the IVA and also keep our house going which we have a mortgage against. A week ago I found out from my daughter that my ex-partner has a girlfriend, 2 days later I found out he is marrying her in 4 weeks, he has only known her 6 weeks!!! He has no decided he does not want to pay half towards the mortgage therefore I am having to sell the house. I have been looking for rented accommodation etc and have a guarantor so hopefully I can get sorted. My question is - the house has been valued at 100,000 but we owe at least 115,00 on our mortgage. What will happen when the house sells and we have a shortfall of this 15,000? My ex-partner is leaving everything to me to sort out and I am getting quite worried now. I have informed the IVA of all the changes that are happening and keeping them up to date because I don't want to get into trouble if he does not pay half of the IVA. We are looking at separating the IVA's when the house sells. Any advice would be welcome!!! Thanks Tracey.

[nittykitty]

Hi Tracey,

Welcome to the forum and I'm sorry to hear about your predigament. I'm not sure what will happen regarding your outstanding money but yes your interlocking IVA's can be separated.

Hopefully someone with more knowledge will be able to help.

[ginger3232]

Tracey - wellcome to the forum - speak to your IP direct to explain the situation - hopefully to separate the IVA it may be your part of the shorfall on the house can be entered into the your IVA - what you ex does with his is up to him - but he will be liable for this shortfall and his own IVA.

[Shining]

I totally agree you need to speak to your IP without delay and hopefully they'll give you good case specific advice. x

[Broke of London]

I can only agree with what the others have said about splitting the iva andadding the shortfall. x