Splitting up?

[stobatron]

What would happen to my IVA if me and my wife split up?

It is in both our names, She is getting nasty and making all sorts of demands off me. The lastest being that I continue to pay the IVA, child maintence, give her the car and everything in the house.

Has anyone had similar experience's or have any advice?

[Shining]

Hi, I'm sorry to read about the problems you're having, IVA's can continue I believe even if interlocking. It would be best to speak with your IP and get some case specific advice.

How long have you been in your IVA?

There may be someone who is in a similar/same position so do hang around for further replies. x

[Broke of London]

Hi - I'm sorry to hear your wife is getting silly. For a start, you don't have a joint iva. You have separate ivas which are interlocking so they can be split allowing you both to repay your ivas separately. That should rain on her parade a little. Once split, your iva can be varied to take into account your new I&E. If the child is yours, maintenance payments are a given and I believe the CSA recommend 15% of your net income as a starting point. Hopefully a cuple of the posters who have lived this situation will be along. xx

[kallis3]

Hi stobatron,

So sorry to hear that you are having problems. You need to speak to your IP about this. You will have to have the IVA's split. She will be responsible for her debt and you for yours and both for joint debts (if that makes sense!)

As to the rest I suggest you speak to either the CAB or get a free consultation with a solicitor. She is making unreasonable demands.

[stobatron]

Thanks for the advice so far, I did not relise it could be split, that will defo pee all over her fire...

Any more advice will be more than greatful,

Thanks forum

[stobatron]

Also when we took the IVA alot of the debt was in my name, but we both spent the money (ie loans for cars/holidays/wedding etc) she thinks she can walk away from these because they were in my name and not hers?

where does she stand on this matter?

[kallis3]

Unfortunately, if the loans were in your name then you have to stand the debt. Unfair I know, but there is nothing you can do about that.

[plasticdaft]

Yup any loans in your name are yours whether she benefitted or not. A visit to a solicitor sounds like a very good idea.

Paul

[RHB]

Under divorce law debts & assets are seen as joint so I suggest you see a solicitor for a free 1/2 hour consultation to get a rough idea of what's likely to happen asap.

[kallis3]

I would have said that if the loans were in seperate names then it would be dealt with as such as far as the creditors are concerned - divorce or not.

[RHB]

What I meant was that a divorce settlment would take account of debts & assets & a consent order drawn up to reflect this. S

[kallis3]

Needs to be sorted out with a solicitor I think.

[Broke of London]

I hope you can sort this reasonably amicably. You both have enough to think about and do without it getting nasty. She's silly if she thinks only you'll be hurt by this...and needs to remember there is a child/children involved. Keep on posting for any advice, rants or a shoulder to lean on. xx

[kallis3]

I hope it can be sorted amicably as well. Your ex should take a step back and think about any kids involved.

Let us know how things go and we are always here for a rant or a virtual hug as BOL says.

[Tina Shortland]

Hi Stobatron - what a difficult situation to deal with all round but hopwfully you have a good IP who will at least help with resolving the debt side of things. Speak to your IP asap if you haven't already so your new income and expenditure budget can be assessed to see what disposable income you have. Remember to include some costs for your child/children if they will be coming to stay with you.

Hope you can get this sorted and agreed soon so you can at least focus on the upset and upheavel of splitting up.

You know where we all are, take care,

Regards,


As the others have said - even though you took the debts on behalf of you both, it does leave you liable for them. Any joint ones will still go into your IVA and your wife will need to sort herself out to cover any of her debts as well as the joint ones too.