no such thing as 'joint IVA'

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rickyg33

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Post by rickyg33 » Fri Feb 15, 2008 6:16 pm
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I noticed that Ian Millington replied to a poster earlier today and indicated that there's no such thing as a joint IVA. That got me wondering.......

If my debts total say £80,000 [credit cards in my name] and my wife's are £10,000 [credit card in her name] and we have a joint bank overdraft of £3,000 - then how can we be considered in a joint IVA, since her debts don't amount to £15,000 [qualifying debt amount]?

I'm confused now..........

rickyg
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aguise

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Post by aguise » Fri Feb 15, 2008 6:55 pm
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Hi Ricky theree is no such thing as a joint iva, but you can have two iva's which are interlocking, therefore one proposal, one monthly payment, joint income and expenditure, but voting is done as two seperate individual;s therfore both need 75% acceptance. Ours is like this.

Ang
Please visit my blog at http://aguise.blogs.iva.co.uk/
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