Posted: Tue Sep 23, 2008 7:46 pm
Just joined the forum today - hope I'm posting in the correct place!
My husband took out an IVA about 6 months ago. We were advised that he should do the IVA in his own name as the majority of the debt was in his name and therefore my credit rating would be less damaged.
The IVA took into account MY salary and when the final creditors meeting took place we ended up agreeing to pay much more than we originally expected.
Since then things have been very difficult and although we're managing to pay most of our bills there is very little left to live on.
What makes things worse is that one of our debts for almost £9k turned out to be in my name also and that company are persuing me for the debt despite the fact that we jointly only have £19 per month disposable income and they are receiving some money from the £660 a month we're paying into the IVA.
Anyway - I thought things were looking up when I got a promotion at work leaving me about £150 a month better off, but I understand from reading through this forum that an annual review will take place.
Can our IVA company take my extra salary even though they are refusing to help me when our joint creditors are threatening me with court action?
I feel very let down. [V]
My husband took out an IVA about 6 months ago. We were advised that he should do the IVA in his own name as the majority of the debt was in his name and therefore my credit rating would be less damaged.
The IVA took into account MY salary and when the final creditors meeting took place we ended up agreeing to pay much more than we originally expected.
Since then things have been very difficult and although we're managing to pay most of our bills there is very little left to live on.
What makes things worse is that one of our debts for almost £9k turned out to be in my name also and that company are persuing me for the debt despite the fact that we jointly only have £19 per month disposable income and they are receiving some money from the £660 a month we're paying into the IVA.
Anyway - I thought things were looking up when I got a promotion at work leaving me about £150 a month better off, but I understand from reading through this forum that an annual review will take place.
Can our IVA company take my extra salary even though they are refusing to help me when our joint creditors are threatening me with court action?
I feel very let down. [V]