Hi, if I enter an IVA what effect will it have on my partner financially as all the debts are in my name except for the mortgage.
She is with LLoyds for her current account and has a small balance on lloyds credit card can any of my creditors swipe money from her account?
Hi Mike, - I'm not an expert, but in a similar position.
I've read on one of the blogs that at some time an IVA got refused for a person because the creditors believed that the partner had also benefited from the credit that had been taken, and therefore, the partner should also be contributing to repaying the debt. something to bear in mind I guess.
I would assume that there would be some affects for both people involved, as the statement of affairs would need to take into account who's paying for which part of what household bills / mortgage etc, - but i'm no expert, so i'm just guessing really.
I don't think that it would have any negative affects on your partners credit file. & as long as it's not a joint account, I don't think creditors can swipe money from her. - Again i'm guessing though, i'm sure someone will reply soon that knows more than I do.
If you have a joint mortgage then you will be financially linked so the IVA for you would have some effect on her credit file but I am not sure as to how much.
Your individual creditors would not take money from her accounts if she was not in the IVA with you
