Depending on you and your partners debts I would do separate IVA's - much easier to administer.
Visit www.iva.com for reviews on IP's as you need to ensure you and your hubby get the appropriate advice for your particular circumstances. Good luck
Last edited by David Mond on Tue Oct 21, 2008 3:33 pm, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
It isn't a question of digging, to be honest. It's a question of full disclosure from the start- for example if one of the vehicles is not disclosed then the consequences of it coming out could be quite serious - in the first place it would be breach of the IVA and an offence. Practically speaking though in leaving out one of the vehicles you will also, by implication, be understating all your travel expenses (fuel, tax and insurance) which will lead to difficulties in the IVA.
In all seriousness, The whether your family has 2 bikes and a car may well become a secondary issue. It is necessary to look at the wider picture - as I said in my earlier post an holistic approach. The general aim is that a deal is reached that everyone can live with.
My advice here is that you should take confidential advice from an IP who can give you all your options and tell you honestly what the likely outcome will be in the circumstances. If you don't like what you are told you are free to walk away and continue with your DMP.
Ian
Ian Millington
Insolvency Director
PDHL Ltd (formerly Personal Debt Helpline Ltd) www.pdhl.co.uk
