Page 1 of 1
Posted: Tue Aug 28, 2007 3:22 pm
by jerrylee
Hi,
Will all debts have to be declared, ie my wife credit cards. also items such as home computer and childrens game console would they have to be sold?
regards
Posted: Tue Aug 28, 2007 3:26 pm
by Minnie
Hi John
Welcome to the Forum!
There are numerous experts that will be able to answer officially.
From my own experience of going through the process of hubby doing an IVA, I have had to detail all of my outgoings as well as hubbys. It is the overall household income and expenditure that will be looked into to ensure there will be sufficient disposable income to support an IVA and existing commitments from the 'non-IVA' partner.
Goods from the home are not sold.
Good luck.
Posted: Tue Aug 28, 2007 4:57 pm
by Adam Davies
Hi and welcome
If just one of you are entering into an IVA then just that persons debt and joint debt will be included.
Your home computer and games are all safe,as is your car as long as it,s not worth a small fortune.
Regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Posted: Tue Aug 28, 2007 8:22 pm
by iva_squirrel
Good evening John,
As Andy says, your home computer and games are all safe. Your wife's credit cards dont need to be included in your iva if it is a single iva however there should be a budget on your household expenses for her monthly cc payments.
Kind regards,
Julia Simavi
Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007
View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp
Visit my website:
http://www.supersonicsquirrel.net
Credit Today Awards 2007
http://www.credittoday.co.uk/awards/winners.htm