I would not be relying on that if I were you. My IP told me they wouldn't be paying them a dividend! I would rather they did as it would be less leftover for the non IVA holder to eventualy find. This was the reason for my post to try and work out if what has happened is correct. Having said that, ...

In this instance the bank get the penny and the bun so to speak - in that they will rely on the non-insolvent partner servicing the loan, whilst receiving regular dividend payments from the IVA. The sooner it can be paid off the better. But they haven't done this, as it stands they are not going to...

I can only suggest that you speak to the IP about this to find out how you stand. I did and they said they are not going to (can't) pay a dividend to the DCA as the debt they have isn't in the IVA holders name!!! They are also not going to pay the bank as they have sold the debt on!!! None of this ...

my wife is in a similar situation o/d got sold to dca but since then and after a few court threats she has asked to dca to prove they own the debt i.e requested the original agreement we signed when we opened the bank account . 7 months on her account is hold as they still havent come up with it ye...

Thanks, just want some confirmation that this isn't right / normal as it sounds all wrong to me that the bank can simply ignore the IVA.

But can / should the IVA pay a dividend to this creditor. Because as it stands it isn't! The IP tried to pay a dividend to the DCA but as they think the debt is in a single name they refused it and returned it. Can the bank sell the debt on in a single name, i.e. cut out the person in the IVA comple...

The account was closed 18 months into the IVA and the debt was sold in the non IVA holders name only to a debt collection agency who are obviously are chasing the whole amount. The IVA company have the debt in the agreement but are not going to pay a dividend to the original bank as the debt appears...

I would think it best to separate the bank accounts asap-pretty sure the bank might try for the money if in joint names as you are jointly responsible for the debt. Changing banks altogether would be your best bet Too late for that, IVA already been up and running for a few years and account not sp...

Hi, Can I ask a question about an overdraft on a joint account when an IVA is entered into by only one of the account holders. I realise that the bank will chase the other holder for the outstanding amount, but if the overdraft was included as a debt in the original IVA can the bank simply ignore th...

And the fact that the new car is used more by you etc etc are pertinent information which should be given to your IP. I didn't actually mention the fact that I have to use the vehicle now in my letter (think I have covered everything else though), do you think I definitely should mention this as we...

I agree with that BUT in that example the Spouses income went up by £300 - my point is a proportion of that should possibly have gone to cover the household expenditure equation - say 10% or 15% - which would go into the pot., What has happened is the wife has spent that £300 increase on herself! I...

Seems like I've started an interesting debate! I was struggling to decide exactly what I should do about this. I still think I should update my IP with my wifes current salary and explain how/why her own debts have increased, but if they come back and demand £100 or more a month I'm going to be in t...

I only provided my payslips to start the IVA, thereafter I refused as I was not in the IVA only my hubby. What did they say when you refused? Still not 100% sure which way to go on this one. I just have a feeling that they will not be happy if I don't provide this information, yet it's not really m...

They have no say over what your wife does with her money, or her share of any disposable income. Thanks for that. It's sort of what I though (hoped!) but I wasn't 100% sure. I've been reading through all the T&C's etc in my agreement and it doesn't mention anything about this. I guess it's best to ...

It is a reasonable request in order to verify the correct contribution towards shared household expenditure - your wife's P60 should suffice. But will they be happy that she has increased her pay by £300 a month but also now has credit of £300 a month to service? (it's not all credit part of it is ...