What will happen to joint debts if I enter an IVA ?

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Ian.k

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Post by Ian.k » Wed Dec 17, 2014 8:43 pm
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I have debts totalling around £30000. Some of them are in both my name and my ex wife's name. What will happen to these joint debts if i apply for an IVA?
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Foggy

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Post by Foggy » Wed Dec 17, 2014 8:51 pm
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If you apply on your own the debts will be included in your IVA, but the creditor will then pursue the joint debtor (your ex) for the money and she will need to make the payments or come to an arrangement.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Michael Peoples

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Post by Michael Peoples » Thu Dec 18, 2014 9:12 am
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Your ex will need to be informed of the IVA and if she then repays the debts she could claim within your IVA.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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