www.iva.co.uk

Hi, I am wondering if I can opt out of an iva I signed up for ova 2 years ago. I separated from my husband and he didn't maintain any payments. He sold the family home and now the iva company phoned me to say that because the home was sold they want £21722.19. If we had stuck with the plan we would only have to pay £6480. My husband can't be contacted and they are taking me to court.

I would of thought the IP would of put a restriction on the house sale?

You cannot opt out, but can allow the IVA to fail, which it probably already has done. I cannot see why they would be taking you to court, as, if an IVA fails you are simply back to square one with your creditors. They could be petitioning for bankruptcy, which, again, will get them very little, but the OR has greater powers to overturn the sale of the house, so that might be their line of thinking.

Have they explained their intentions to you. Which firm is it ?

I am also curious how the property was sold if the IP had a restriction against it and it was jointly owned with you. If you signed the paperwork you may well be liable but if not there is little they can do.

The solicitors that dealt with the house sale, proceeded with the sale because the iva company (creditfix) would not give a final figure to them so things got frustrating and buyers solicitors wanted to push the sale through regardless. I was just wandering if I could set up a new account with them and start again

I can only assume that the sale proceeds are being held by the solicitors so these could be used for a full and final settlement.

I just need to know if I can start all over again with the iva.Do I have to stay with the same company or can I join a new one. Please help me[:(]

I would suggest getting in touch with Michael and going through your specific circumstances to see if there is any way forward.

Agreed contact Michael as this sounds very complex.