My house is mortgaged but all in my husbands name

[alison938]

Hi, I'm looking for help on what company is best to start an IVA.
My house is mortgaged but all in my husbands name, I'm worried if an IVA would effect him, we have nothing in joint names only a bank account, he thinks he will be effected cause we are married.
I've run up lots of dept on credit cards and it's becoming a struggle, I was looking at payplan but I'm now unsure, any advice would be much appreciated.

[Michael Peoples]

Your husband has no legal or moral responsibility to your debts unless it can be proved that the funds were used for home improvements, extension etc and even then it is not guaranteed. Some creditors will ask for an extra year's IVA payments in lieu of any perceived interest but some do not.

Your husband's credit file could become affected regardless what you do especially if there are linkages such as joint accounts but credit files are individual so he should be okay.

Finally before you decide which firm to use do some research with independent outfits such as Trustpilot and I will add a link to Payplan's below.

https://uk.trustpilot.com/review/www.payplan.com

[Foggy]

Some firms (including, I think, Payplan) would seek to claim that you have an equitable interest in the property and see it included in the IVA. Others, will not, however, as Michael has said, the creditors might add an extra year to account for this ---- the crux being that in one case the Nominee would introduce the property themselves and in the other they would leavre it and hoipe the creditors ignore it too.

Regarding credit scores -- your husband could be slightly affected by the joint bank account and it might, in any case, be wise for you to remove yourself from that one and open a basic account, like a co-op cashminder.

[alison938]

Thank you both for you reply.

[Lisa Thomas]

If you don't own any assets then depending on your circumstances a Debt Relief Order or Bankruptcy may actually be better for you than an IVA and less onerous.

My brief video guidance on each can be found here:

https://www.youtube.com/edit?o=U&video_id=mAkQsVSCnqo

https://www.youtube.com/edit?o=U&video_id=BtgpEX5mNDg

[alison938]

If you don't own any assets then depending on your circumstances a Debt Relief Order or Bankruptcy may actually be better for you than an IVA and less onerous.

My brief video guidance on each can be found here:

https://www.youtube.com/edit?o=U&video_id=mAkQsVSCnqo

https://www.youtube.com/edit?o=U&video_id=BtgpEX5mNDg

Hi Lisa, there seems to be a problem with both links, won't let me see anything.

[alison938]

If you don't own any assets then depending on your circumstances a Debt Relief Order or Bankruptcy may actually be better for you than an IVA and less onerous.

My brief video guidance on each can be found here:

https://www.youtube.com/edit?o=U&video_id=mAkQsVSCnqo

https://www.youtube.com/edit?o=U&video_id=BtgpEX5mNDg

Hi Lisa, there seems to be a problem with both links, won't let me see anything.

could I ask you what the difference is between the 3 options.

[Foggy]

Here are run downs on each:

https://www.iva.co.uk/bankruptcy

https://www.iva.co.uk/debt-relief-order

https://www.iva.co.uk/individual-voluntary-arrangement

[Lisa Thomas]

The links are working when I click on them so I am not sure why you can't see them.

Try this instead:

https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA

[Foggy]

The links are working when I click on them so I am not sure why you can't see them.

Try this instead:

https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA

Lisa - I have tried your links without success (although I used to be able to view them) -- it seems you now need a Google Account to be able to view them ---- which you probably have, which is why you see them. It might be better to use the links You Tube give you when the videos are displayed.

[Lisa Thomas]

Thanks Foggy

Can you tell me if this works?:

https://youtu.be/mAkQsVSCnqo

[admin]

Just to end the confusion about links:

Lisa, the links you have posted are for opening the video in edit mode. Notice the word "edit" in the url. That's why when we click on the link it asks for username and password.

You need public link of the video. The format of the public url is: https://www.youtube.com/watch?v=mAkQsVSCnqo or https://youtu.be/mAkQsVSCnqo

You can get the public link of the video to be shared by clicking on the "Share" button below the video on the respective video page.

I hope this clears the confusion.

[Foggy]

Thanks Foggy

Can you tell me if this works?:

https://youtu.be/mAkQsVSCnqo

Yes, that one works Well, at least for me

[Lisa Thomas]

Just to end the confusion about links:

Lisa, the links you have posted are for opening the video in edit mode. Notice the word "edit" in the url. That's why when we click on the link it asks for username and password.

You need public link of the video. The format of the public url is: https://www.youtube.com/watch?v=mAkQsVSCnqo or https://youtu.be/mAkQsVSCnqo

You can get the public link of the video to be shared by clicking on the "Share" button below the video on the respective video page.

I hope this clears the confusion.

Thank you

[Lisa Thomas]

Thanks Foggy

Can you tell me if this works?:

https://youtu.be/mAkQsVSCnqo

Yes, that one works Well, at least for me

Thanks Foggy.