my partner has an IVA arranged at the beginning of last year and since then he has never paid the full amount (£850), and each month pays £250 via a standing order. He got into difficulties after gambling and is still doing this and now he can't pay me any money towards the housekeeping, or towards the debt he owes me (£6000). I own the house, the car and have three children of may own - am I going to be liable if the IVA is withdrawn and do I have any redress as far as the money he owes me is concerned?
Sorry I can't answer you exact questions but stay put and I am sure one of the experts will be along shortly.
If your parnter could not afford the IVA payments from the outset then why did he agree to it - it is likely that his IVA will be failed by the IP company and bankruptcy maybe his only choice - has he tried to get help for his gambling habit ?
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I am sorry that you are having such trouble with your partner.
As far as the IVA goes, if all the debts are his, if the IVA fails it will not affect you. I can only suggest that his best course of action would appear to be bankruptcy (which again wouldn't affect you).
I'm surprised that his company haven't failed it if he hasn't being paying the full amount.
He needs to get help with his gambling as well.
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.
Bob Marley. http://kallis3.blogs.iva.co.uk
You need to have a serious talk with him about his gambling habits as it will only ruin his and possibly your life. Your assets are safe so don't worry.
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.
