www.iva.co.uk

Hi both myself and soon to be ex husband have IVA's and are 29 months into paying it. We are divorcing and have 2 small children. My question is as I really want to stay in the matrimonial home is he obliged to do tongue to pay his half of the mortgage whilst in the iva? I can not find out original agreement. Thanks

Hi and welcome,

If you want to stay in the home then he will have to continue paying. If he doesn't then you could run the risk of having to sell it.

Is he happy to continue to do so?

The iva does not oblige him to maintain his share of the mortgage.

This will come down to what divorce agreement is reached, maintenance etc.

Also he has the liability as he is co-owner and if he defaults they could take action against you.

If either of you want to sell any profits would go to the iva with an amount set aside to allow you to rent unless it pays the iva off in full.

The other issue is whether you are in individual or interlocking ivas.

Presumably he will be moving into rented accommodation, so both I&E's will need to be done again, his allowance toward the mortgage payment will either be replaced, or augmented, by his rental payments. As LNE says, he will not be compelled to maintain payments by the IVA, but you will both have to look at the whole picture and work out the best way forward for the both of you.

Hi and welcome. Sorry to hear of your present circumstance and sincerely hope that working with your IP and working together with your ex-partner that you can find a way forward.

Both Income and expenditures do need looking at as Foggy rightly says to find the best way forward

All the best and I sincerely hope this works out, don't forget where we are if you need any advice/support.

First issue about whether you can stay there and if so whether he has to continue contributing to the mortgage will depend on what the Court decides.

That may then have an impact on one or both of your IVAs so some adjustments might need to be made and they might need to become unlocked if they are interlocking.

If he continues paying the mortgage and has has to start renting he might be entitled to deduct the rental sums off any amount he is paying towards the mortgage capital.

It's known as equitable accounting:

http://www.propertylawuk.net/constructi ... nting.html

Remember he can't pay you what he doesn't have so he probably wont be able to pay the mortgage and rent at the same time (and continue with his IVA payments).