BR or IVA?

[dr_kitten]

Is it possible for someone to take out an IVA if they have no income but their spouse does?

[Soulgrowth]

Hi Dr Kitten ... you'll be well at home here amongst all the animal lovers!

Perhaps you could post a few more details and I am sure that one of the experts would be able to give you some sound advice.

Debbie

[dr_kitten]

I have a full time job; my husband is full time childcare/DIY expert/launderess and chef but sadly gets nothing for it bar chocolate =)

We both have debts; initially they were his but I took some on and what with one thing and another they're far too much for us. In round numbers, the debt in my name is £67k and that in his is £16k.

I was wondering if an IVA would be possible at all given he has no income and we live off my salary, or if he would have to choose BR.

I would have about £600 disposable each month to go into an IVA if I was accepted (although this is also iffy with the high debt and the fact that my contract expires in less than a year).

[MelanieGiles]

It is no different if he was the earner and you are the housewife, so IVAs are definately possible.

It would be best to talk things through directly with an insolvency practitioner to see what options you have, and if you are working on a fixed term contract which is due to conclude, you will need to demonstrate some certainty of income in the event that this is not renewed.

[dr_kitten]

(I've already filled out your IVA enquiry form, Melanie! I'll be contacting you tomorrow during working hours.)