Thanks again Melanie,
What a minefield - every step seems to raise another question. I want to avoid Bankruptcy as it will have repercussions for my work where I have to supervise the financial affairs ( I know !!) of adults with learning difficulties.
I note your comment about creditors chasing my husband if am able to agree an IVA first - and vice versa. Would it be significant who makes the first agreement - in intial discussions with an IP one proposal was to submit two IVA proposals at the same time. My husband has not made his mind up which way he is going.
I assume from your post that you have already consulted an IP? If so what do they recommend?
If I were advising you, and I assume that your current advisor is not advising your husband, and you had the offer of funding available, I would be encouraging you to proceed swiftly, to avoid legal action and ongoing interest accruing, but I guess it depends upon the attitude of your ex-husband and how helpful you want to be to him really.
Melanie - thanks,
The advisor in agreement with an IP (they have spoken to both of us together as it was felt a last bit of cooperation might be to mutual benefit) has suggested that we each agree independently an IVA which he would submit seperately but at the same time to increase the likelihood of the offer being acceptable to our joint creditors. Neither of us have agreed to go ahead yet. I am still trying to check out a few questions and have a possibility (if my family can be assured that this would be a safe and good option for me and them) of a lump sum offer. My husband is considering a DMP. We do not want particularly to do each other any favours unless it leads to mutual benefit.
Your opinion is valuable as I need reassurance.
Thanks again.
If you have the option of a lump sum IVA I would take it. This would mean that your creditors would get paid earlier, and the IVA would therefore be closed earlier.
I am sure that your relatives will want paying back, but this will probably be more flexible for you than entering into an IVA which relies upon someone you no longer want a relationship with paying as well.
Your family could also have a chat with the IP concerned, or talk to another IP for reassurance if they are worried.
Thanks - yet again, do you ever stop working ?
I think I may have not made it clear that the IP is in fact suggesting two completely independent VAs not linked. I will not be dependent on him once the proposals are accepted - or if only mine is - I wanted to check how I might be affected if his IVA failed or he chose to go down the DMP route. I've made a lot of poor decisions in the past want to get this one right.
This is not really working - and I always have one eye on the TV and one on the computer!
If your IVA is going to be completely independent, then there ought to be nothing which would disturb your case if your husband's IVA failed or he chose another option.
