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 Help advice please -IVA and short fall from house
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DonnaJones
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2 Posts

Posted - 27 Mar 2017 :  10:59:31  Show Profile  Reply with Quote
My husband is in an IVA and his house and his ex woifes has been sold with a short fall over 10,000. Do we have to add the short fall to the IVA which is due to finish in 12 months . I know if its in the paperwork saying so we would have to comply?
But if it's not in the paperwork can we make arrangements direct instead as we really dont want to be tied up for another twelve months having the IVA control our lives.

IVA Adviser
IVA Expert



734 Posts

Posted - 27 Mar 2017 :  15:33:37  Show Profile  Reply with Quote
Hi DonnaJones,

You'll need to make your husband's IVA supervisor aware of this situation.

They'll advise you of any consequences in connection to this which, as you say, will be driven by the content of the IVA agreement. I'm not sure that an extension is necessarily inevitable.

I am a professionally qualified debt adviser. To contact me about starting a IVA please:?      
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DonnaJones
Just Joined

2 Posts

Posted - 28 Mar 2017 :  12:11:58  Show Profile  Reply with Quote
quote:
Originally posted by DonnaJones

My husband is in an IVA and his house and his ex woifes has been sold with a short fall over 10,000. Do we have to add the short fall to the IVA which is due to finish in 12 months . I know if its in the paperwork saying so we would have to comply?
But if it's not in the paperwork can we make arrangements direct instead as we really dont want to be tied up for another twelve months having the IVA control our lives.



Have to persuade IVA now to let us settle the short fall separately as to be able to finish IVA on time But they will probably still want the money that was going to the morgage company monthly, into their pot as hoping to make morgage company an offer with a gift from a worried relation who can see what we are going through
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IVA Adviser
IVA Expert



734 Posts

Posted - 28 Mar 2017 :  12:28:20  Show Profile  Reply with Quote
Hi DonnaJones.

All we can really do is to reiterate that you shouldn't do anything without discussing this with the IVA supervisor first.

There are rules and processes which govern how these things need to be dealt with while you're in an IVA.


I am a professionally qualified debt adviser. To contact me about starting a IVA please:?      
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