I am in a joint IVA with my husband. We are separating. How will this joint IVA work ?

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jane-p

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Post by jane-p » Thu Jan 30, 2014 10:02 pm
I am in a joint iva with my husband. we are separating. how will this joint iva work.
 
 

Foggy

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Post by Foggy » Thu Jan 30, 2014 10:19 pm
Hi jane - much will depend upon how your relationship continues and what the finances look like when the dust settles.

One option would be to work together to continue the payments. A new I&E will have to be sorted as you will probably be running two households between you. With the new figures consideration will need to be given to whether the IVAs are still viable.

Another option is to separate the IVAs and for each of you to service your own arrangement independently.

Do keep your IP in the loop as they might be able to help, at least initially, with a payment break until the finances have settled.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

MelanieGiles

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Post by MelanieGiles » Fri Jan 31, 2014 12:50 am
Do you both feel that you can both continue to meet your share of the monthly IVA payments?
Regards, Melanie Giles, Insolvency Practitioner
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