Posted: Fri Oct 26, 2007 12:26 pm
Hi guys I was hoping some of our experts out there could give me some advice.
When I started this whole IVA thing, it was made very clear that my husband did not want to be involved at all.
He was unaware of the debts I had, the house is in his name, and he already heavily subsidises me with our monthly bills. Regarding the house, when he took out the mortgage the mortgage company made me sign an agreement saying that I had no legal interest in the property at all.
During the initial process of getting i&e details, etc, etc, we were told that we had to let them have my husbands details, but only to prove that he was subsidising me.
So last night, I get a phone call saying that they don't know if they can propose the IVA because my husband has too much disposable income. They also said that despite the house being in my husbands name the creditors could still insist on some sort of equity clause.
I'm very confused and quite cross. At the end of the day ALL of my debts are unsecured. I thought the whole thing about unsecured debts was that your house was NOT endangered if you defaulted. Also, if a creditor can approach your spouse for money if you default, why the hell do they allow the credit without the spouse signing something to say they agree to this. My husband has signed nothing.
This is MY debt. MY mess. Not his. If they want to drag me through the courts, make me bankrupt, anything, FINE. Just please leave my husband alone.
I don't know what to do. I'm afraid my husband is on the verge, if not already having, a breakdown. The house was bought with the money his parents left him when they died. I have no right to make him sell it, legally or morally. If that happens, I don't know what he'll do.
I'm sorry for the rant, but I'm really scared. Any advise would be appreciated.
Thanks.
Johnz
When I started this whole IVA thing, it was made very clear that my husband did not want to be involved at all.
He was unaware of the debts I had, the house is in his name, and he already heavily subsidises me with our monthly bills. Regarding the house, when he took out the mortgage the mortgage company made me sign an agreement saying that I had no legal interest in the property at all.
During the initial process of getting i&e details, etc, etc, we were told that we had to let them have my husbands details, but only to prove that he was subsidising me.
So last night, I get a phone call saying that they don't know if they can propose the IVA because my husband has too much disposable income. They also said that despite the house being in my husbands name the creditors could still insist on some sort of equity clause.
I'm very confused and quite cross. At the end of the day ALL of my debts are unsecured. I thought the whole thing about unsecured debts was that your house was NOT endangered if you defaulted. Also, if a creditor can approach your spouse for money if you default, why the hell do they allow the credit without the spouse signing something to say they agree to this. My husband has signed nothing.
This is MY debt. MY mess. Not his. If they want to drag me through the courts, make me bankrupt, anything, FINE. Just please leave my husband alone.
I don't know what to do. I'm afraid my husband is on the verge, if not already having, a breakdown. The house was bought with the money his parents left him when they died. I have no right to make him sell it, legally or morally. If that happens, I don't know what he'll do.
I'm sorry for the rant, but I'm really scared. Any advise would be appreciated.
Thanks.
Johnz