Just joined the forum today - hope I'm posting in the correct place!
My husband took out an IVA about 6 months ago. We were advised that he should do the IVA in his own name as the majority of the debt was in his name and therefore my credit rating would be less damaged.
The IVA took into account MY salary and when the final creditors meeting took place we ended up agreeing to pay much more than we originally expected.
Since then things have been very difficult and although we're managing to pay most of our bills there is very little left to live on.
What makes things worse is that one of our debts for almost £9k turned out to be in my name also and that company are persuing me for the debt despite the fact that we jointly only have £19 per month disposable income and they are receiving some money from the £660 a month we're paying into the IVA.
Anyway - I thought things were looking up when I got a promotion at work leaving me about £150 a month better off, but I understand from reading through this forum that an annual review will take place.
Can our IVA company take my extra salary even though they are refusing to help me when our joint creditors are threatening me with court action?
One of the technical experts will be along shortly to advise you.
However, I would say that the reason the IVA company won't help you with the joint debt is because you are not in an IVA. Your husband is safe from court action, but you are not.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Poor advice indeed - were you not aware at the time of your husband's IVA that you were jointly responsible for this debt? I suggest that you make an immediate approach to the creditor concerned with an offer based upon your own affordability. £150 per month for the next five years will see that debt repaid in full if you can get them to agree to stop charging interest.
