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IVA issues and marriage break up issues

3 replies

fhuaixnd · 16/07/2026 23:24

I posted earlier which was mainly about my child but theres more

Me and my ex have been broken up since july 2025. We both have an individual IVA. We share a mortgage on a property which i am currently residing in. The agreement was that in 4 years time we will sell the property as the IVA will be over and we can both have the equity split and have a fresh start. He agreed with that. Ive paid the mortgage since then

His parents are now kicking him out and he has nowhere to go. His dad has offered to buy me out but it makes no financial sense. Any money he gives me now will just go to the IVA company and ill be penalised through universal credit for having savings even if they go straight to the company. His other suggestion is for me to just move out and declare myself homeless and he will have the property and not sell it. Again depriving me of any equity.

We aren't allowed to sell the property right now I believe due to something the IVA company put on the land registry.

Im not really sure how to navigate this. I plan to speak to citizens advice and maybe a solicitor but due to sight loss im currently on a low income and receive benefits.

OP posts:
MeetMeOnTheCorner · 17/07/2026 07:38

The Iva is a monthly payment is it not? The equity in the property is considered anyway. As you have debts, what money do you have? None. It’s all in the house but you are paying monthly to clear debts. So you haven’t been forced to sell to pay creditors. What would you use the equity for after 4 years? What are your chances of getting another property? Low one assumes. You could accept the money, pay off the debt and try and find a rental home? Swap the mortgage for rent,. Essentially you have no money because you have debts and the agreement means you may well have the equity drawn in anyway.

fhuaixnd · 17/07/2026 10:14

The money from the sale of the property wouldn't cover the debts. There's only about 16 thousand in equity. Which would be 8 thousand each. All would have to go to the IVA company leaving me with no money or property. In 4 years I could keep that money and secure a property for me and my child

OP posts:
MBrownn · 20/07/2026 02:56

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