joint iva`s are possible me and my wife are in one, both incomes will be taken into consideration if it is single anyway i am no expert they will be along shortly to advise
It is a commonly held view that IVAs for husband and wife are actually "joint", when as Mrs Skint confirms they are actually Individual - but have a linkage in terms of a combined payment being made and all creditors receiving the same dividend.
IP's should always propose IVAs individually if they present a viable option.
We are in an interlocking IVA and have been from the outset - both sets are individually looked at and then assessed against your income to reach an agreeable payment each month for creditors.
It can be quite nerve racking at the creditors meeting, as both need to pass for the IVA to be approved. If did and one didn't then the one that didn't would need to consider alternative such as a DMP or Bankruptcy - however, cling to the the thought that the IP representing you, would not have entered you for an IVA had they thought it would not be approved !
Good luck !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
We make seperate payments to ours, two standing orders each month for differing amounts.
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.
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There is no such thing as Joint IVA's they are individual per person but might be interlocking with one joint payment made to cover both.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
