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Posted: Sun Sep 07, 2008 9:50 pm
by hombray10
want to consider iva myself but have one joint loan with my wife does this have to be included.
many tanks
Posted: Sun Sep 07, 2008 10:05 pm
by LoneRanger
Hi and welcome.
If you apply for an IVA and your wife doesnt then she will be liable for the full amount of the joint loan and will be chased by creditors for this.
Posted: Sun Sep 07, 2008 10:21 pm
by freelili
All unsecured debt has to be included too.
Posted: Sun Sep 07, 2008 10:31 pm
by rachael81
Yes all unsecured debt has to be included, my husbund has a joint loan with myself and i was advised by my iva company that i had to include it as it was in my name aswell .
Posted: Sun Sep 07, 2008 10:33 pm
by LoneRanger
Does your husband not have an IVA Rachael?
Posted: Mon Sep 08, 2008 2:18 pm
by MelanieGiles
If that is your wife's only liability, it may be possible for your IVA to bind that creditor to just accept a dividend from your IVA and not to pursue your wife separately - but that would be dependent upon her own circusmtances, and whether she could afford to continue to service the ongoing repayments on that debt.
Best to take advice on this matter from an insolvency practitioner, as you do not want to leave your wife with a problem she could not deal with.