affecting credit rating through association ?

[guyg]

Q1) I am considering an IVA. (Clear Start – can anyone advise are they any good?).

Q2) Although my name is on the mortgage, and there is equity, my wife has paid all the mortgage since inception. (it's simply the case that I have always been self employed and my wife has always been in employment and she has always been fearful of exactly what - unexpectedly - has happened, as a similar thing happened to her sister previously).
Needless to say the debt problem has caused us to split & she is adamant she will prevent any attempt to me claiming any equity. (I don't blame her for this - she has paid it for the last 10 years).
Nevertheless, I'm hoping that, if I can show her I can sort my own problems out, there might be some chance to get back together in the future.
One of the big things she is furious about is that, although I have moved out and divorce is on the cards, she believes my IVA will also affect her credit rating through association. Can anyone tell me is this true?
I'm desperate to try to appease her - not for the equity but because I love her

[indebtforever]

there are great ip `s here on the forum clearstart are a very large company and i am afraid you wont get the level of service you get from the smaller practices have a chat with some on here melanie giles for one

[MelanieGiles]

Hi there and welcome to the forum

I am afraid that your poor credit rating will most likely affect your wife's, and unfortunately for her spouses cannot disassociate from each other for the purposes of credit reporting.

She also ought to take legal advice with regard to the property, as I fear that you do have a share of the property, although she may be able to argue that hers should be higher in view of the payments made by her. These are complex calculations, and subject to the production of documentary evidence to prove both side's claims.

So sorry to hear about your difficultes, but if you decide to deal with your issues in a responsible manner, by taking proper professional advice, she may realise that your relationship is more important than a few debt problems.

So far as I am aware, Clearstart who are part of the Debt Free Direct group do not propose IVAs for self-employed persons.

[Viki.W]

Hey guyg, welcome to the forum. Just wanted to say that I am very sorry about your split, I do hope that you sort it all out as love is more important than money. Melanie deals with self employed people so why don't you give her a call to discuss your options. Good luck and keep posting. Viki X