Hi, I am trying to sort out my non priority debt as my partner has left myself and 2 children in an unfortunate situation. He lost his job last year and we had to default on our credit card but I have set up an arrangement to pay back £50 a month. The debt is £6000. We also have a loan of which £8000 is outstanding and an agreed overdraft of £2700. As he had a poor credit rating and I had a good rating, I took everything out in my name but I am now obviously liable and need to find a home to rent for me and my sons. I'm not sure whether this is the best option for me. My ex partner owes me £15000 and as he is now working, we are working on him paying an amount to me each month to pay off what he owes. I wonder if you can advise what the best course of action is for me?
Hi Annette. Depending upon how compliant your ex would be with the repayments a debt management plan might be a way forward, rather than a full blown IVA, and the money from the ex could be used as the repayment.
I would suggest you have a chat with a couple of insolvency firms for case specific advice. A listing can be found at www.iva.com and a quick look around the forum will reveal a couple of good firms to speak to (always best to chat with more than one, to compare advice and to see who you "gel" with).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You would not be insolvent were in not for the debts you took out for your partner. If the money he owes you is provable, and undisputed, I would consider taking civil proceedings against him to recover what you are owed. Ultimately this can be taken directly from his salary, if your claim proves successful. In the meantime a DMP us sensible to keep the wolves from the door
