You will actually both have an IVA so there is no reason why you can't continue. Chat with your Insolvency Practitioner and fill out a fresh income and expenditure form based on just yourself
If they are interlocking the IP can separate them and each can go their own way. If you have joint debts and your wife allows her IVA to end, she will be chased for those debts even though they are in your IVA too.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Severing the IVAs is the best way to deal with this type of problem and each party can then decide how they want to proceed. If there is a property you could offer to sell it and close down the IVAs and if there is no surplus left now creditors may accept what has been paid to date as full and final settlement.
She can do that but it may not be the best option for her, especially as she will be back at square one again with the possibility of Bankruptcy (depending on circumstances). This could mean 3 years of contributions so she could be worse off than if she had continued with her IVA. Best to speak to your IP.
In a split what is best for the kids and money becomes an issue.
If you have kids work out between you what is best to allow you both to maintain and protect them.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
