Debt & IVA

[dylan]

I am in an IVA,. A flat was purchased in 2011 by my parents but the sale documents and deeds and land registry are in my name. A Statuary Declaration was in place for my parents. Their will was for any property or assets would be split 3 ways to sons. The trust declaration was removed by the courts to enable funds to be raised for care costs. Does this mean the property is mine or part of their estate? I had PoA for my parents and solely cared for them. Despite this, I agreed to sell the flat and split it with my siblings as I thought it was the right thing to do. As I am in an IVA and didn't have the full lump sum of the flat sale I paid one sibling in full but the second one in weekly installments. I believe he is disgruntled and as it wasn't quick enough for him he has taken me to court and is trying to obtain costs. I have paid him £50K so far outside of the IVA as my son was making the payments. The o/s agreed left to pay was £13K - I stopped the payments when he declined to stop court action - he is asking for £34K which is the 13K + costs. I did this to protect my brothers from the IVA because if the flat is mine it would be an asset to me and he would be part of the IVA. The IVA cannot decide whether it is an asset or part of the estate. At this late date, the IVA lawyers have now declined to appear in court although they were originally. I asked for the court action to be thrown out as no case to answer. I have always said this is a private matter to my brother and his representation but the judge wants to make a decision on this and has set 45 mins time. I would very much like to know the legal stance before I end up representing myself as I cannot afford anything and the court date is next week.

[atticus]

That's the thing about judges, they like to make decisions after hearing both sides.

Beyond that, It is not possible to advise without seeing and understanding all relevant documents and the court papers.

[Rambosilver]

Can’t help you I’m afraid but just wanted to ask you something about you IVA, I am in one and I had my annual review and my monthly DD to the IVA went up, not by much but still, and apparently I owe them £400 ???? Never missed a payment ect, did you find this on your IVA , it seems brilliant at 1st to have 85% of your debt wiped but down the line you’re getting back into debt ?? Crazy . Sorry to gatecrash your post .