If my partner goes for an IVA how will my credit rating be affected? we are married and we have a joint account as well as our separate accounts. I am unsure on whether it would be beneficial for me to stay out of the agreement as i only have 1 card with 4000 on it or if i would be better off to be included as well.
If you have any joint accounts your credit rating will be shot also,plus if you have any joint accounts that are in debt the company will chase you for the arrears.
Someone with more knowledge should be along later to explain it a bit better
Today 1st of December 2016 the vultures finally flew away
Is the joint account a bank account and do you have an overdraft?
If not then I suggest you ask to be taken off the joint account and open another one of your own.
If you have a mortgage then I'm afraid your credit record will be impaired.
You cannot include your credit card debt in your husbands IVA and the amount is too small to do one on your own. If you can afford to keep it going then I would do so.
If you've not already done so then speak to a couple of firms. Vincent Bond (details under ask experts a question on the left hand side of the page) can be contacted for some free advice.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
