My new partner has an iva and has recently left his wife. It is possible he will today lose his job as well. He thinks his best option is to go bankrupt. Is he right? live on disability banefits and a small civil service pension. Will I be affected?
It is impossible to say if bankruptcy is his best or only option and he should speak to his own IP. However, his IVA or bankruptcy will not affect you so he should not take this into account when deciding what to do.
Unless an offer can be put to the Official Receiver in lieu of his share in the equity it is likely the house will be taken into account in the BR which will of course affect whoever is living in the property. It is best your partner speak to his IP to look at his options moving forward once it is known about his job today. His IP will have first hand knowledge of his circumstances and case in detail.
Let us know how he gets on and if either of you need any further advice or support.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Thank you Tina. The wife is in her 50s no children under 18 so she can re-locate easione I think.ly and has relatives very nearby. Selling the house would be an advantage to every
