if i go down the route of an IVA

[mutley]

if i go down the route of an IVA will my partners income be taken into consideration, i have 2 loans, a credit card and overdraft, all in my name only?

Regards

[johnt]

married or not, you will be able to apply in your name only. Your partner will not be affected unless you choose to apply for a joint IVA.

[MelanieGiles]

That is not correct John. Mutley's partner's income will be taken into consideration if he applies for an IVA, but merely to ensure that both of them are paying a fair share towards their household bills based upon a similar ratio to their earnings. If all of the debtor are in Mutley's name, and his partner has no debts, then creditors will generally assumed that his partner may well have benefitted from the borrowings and therefore should also contribute towards the IVA payments.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[johnt]

true, the partners income will need to be considered, to determine all houshold outgoings. This is reasonable. But her loans and cards are mutleys responsibility. The amount paid will be determined by what she can afford, after her own monthly commitments have been reviewed. Correct?

[MelanieGiles]

Correct!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp