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Hi
I have 4 credit cards, my wife has 1 and we have a joint bank loan, can an IVA be set up as a couple to include all debts

There is no such thing as a joint IVA, but you can propose mutual and interlocking IVAs which are dependent upon one another and where you just make one combined payment each month. Both sets of creditors then share an equal dividend from the "joint" pool of money.


Empty pockets never held anyone back. Only empty heads and empty hearts can do that.

Hi clansman and welcome to the forum

Your wife will be unable to enter into an IVA as she only has two creditors I am afraid. If you continue with an IVA, she will need to deal with the joint bank loan, perhaps by offering ongoing payments from her share of your joint household disposable income.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi clansman,

Unfortunately your wife can't enter into an IVA but she is responsible for the joint loan so you will need to combine both payments each month.

Regards,
Michelle P.