income based benefits

[kallis3]

I'm not so sure how they do shared loans if only one of you wants to do IVA.

You do need to speak to an IP about your other loans etc., to see if an IVA is viable.

[MelanieGiles]

That's correct Kallis.

[look_divine]

what will happen if i iva witht he joint loan melanie

[MelanieGiles]

Sorry - I don't understand that last post Look Divine. Could you clarify the question you are asking please.

[look_divine]

i have a joint loan with hubby that finishes in may 2009, now we are seperating and once i get somewhere to live i will be leaving, he has 2 credit cards which are in his name which he said he would carry on paying if i pay the loan, how would that work in a IVA
My name is not on his cards although i was an additional card holder
also melanie is working family tax credits classed a income based benefit

[kallis3]

His credit card debts are not yours, regardless of who has used the cards.

[look_divine]

yes but the loan is and his name is on it

[Viki.W]

Lool Devine, I think if you enter into an IVA then your husband will still be liable for the whole of the loan debt. Please wait for Melanie to clarify that.

[look_divine]

good god
so much goes into the ivas
sorry for asking so many questions

[MelanieGiles]

If you enter into an IVA you will both be responsible for paying the joint loan - and the bank will definately puruse your husband.

Your tax credit income will be taken into account for the purposes of calculating your disposable income.

[look_divine]

so might be best if we get that paid off then, i honestly cannot be done with the hassle it will cause got enough on my plate with leaving him

[kallis3]

I really think you should give someone like Melanie a ring and discuss everything with them.

They can tell you exactly where you stand, and what you need to do.

[look_divine]

i know kallis just trying to figure everything out dont want to ring then blooming hubby gets a letter saying he has to do this that and the other things bad enough here without adding to it if you know what i mean

[freelili]

Look divine

Would it not be better to just sort yourself out first as regards to leaving your husband. Then you will better be able to service the debts, as it seems you have quite a lot going on at the moment. It would be very difficult for you knowing exactly what your disposible income is (although I am guessing here)let alone an IP or creditors. I have been in this position myself some years ago and I know it took me quite a while to settle down and to know whats what. I am only speaking from experience but to enter into such a commitment at a time when youre obviously emotionally and physically stretched, would be the wrong thing to do.

[look_divine]

then whats the altenative?
I have to leave for my own and my kids sanity, therfore i wont be able to keep up the payments im struggling now
Im only asking for some answers to questions
I'll just keep reading from now on like i did before
thanks for everything everyone, all the answers helped heaps xxxx