www.iva.co.uk

I have entered an iva with blair endersby, we went into it with a joint application, but after blair said i can just do it in my name so we went ahead, now two companies are chasing my wife for the money (£10,000)because they were in joint names which we can't afford to pay.
Should blair endersby have gone though the paperwork properly before advising a single iva?
Has anyone else had this problem?
What are the implications if i default on this iva then start a new one?
Can we declaire ourself bankrupt?
Can i leagaaly do anything about blair endersby?

Thankyou for taking the time to read my questions and i look forward to your answers!

Hi and welcome.

I imagine that if your wifes only debt was the joint loans for £10k that is why they suggested just the one IVA.

However, they should have told you that with you only having an IVA, your wife would be chased for the whole of the debt.

If you default on this IVA for those reasons, I imagine you would find it hard to get another one.

If you have no assets, then you could declare yourself bankrupt, but you would have to let the IVA fail first. If you have a house, you could lose it in bankruptcy.

Blair Endersby post on here. Hopefully they will see this post and come on and answer it.

Your IP ought to have taken these joint accounts into consideration when they were proposing your IVA - as how was it anticipated that your wife would continue to service her debts.

I hope that Blair Endersby will see this post and be able to assist you directly - they do regularly review the forum and have a good track rate of dealing with their client's queries - and it is essential that this matter be dealt with soon.

I too am with blair endesby a similar thing happened to me started off with joint iva and then they decided my husband did not have ehough debt,they did allow for his debt repayment but as soon as thats finished that has to go to iva too.I only realised by reading comments on this forum after iva was agreed that because expenditure and income was worked out on both incomes they are also taking all my husbands disposable income as well as mine.

I cannot understand why this is not picked up prior to the proposals being pur forward. IPs have a duty of care to ensure that the non-insolvent spouse is in a position to pay their own debts, before grabbing their remaining disposable income for creditors.

They did allow for payment of his debts separetly but a clause was put in saying that when they are paid that money must be paid into iva, plus both our disposable incomes go into the iva which means that not only have i got no disposable income but neither has my husband which doesnt seem fair.

I don't necessarily agree with you there. Did your husband benefit from the debts you took out at all, or did you spend the money borrowed all on yourself? Assuming that it was borrowed for family purposes, is it not fair that both of you should pay it back?

I will get the Blair Endersby representative to look into these two cases

I have spent since the early hours of this morning looking through my IVA paperwork and in the Proposed Individual Voluntary Arrangement Summary i have found on my statement of monthly income and expenditure apayment of £40 which is for my partners allowance, and she is a contingent creditor. It also says the we have one joint debt of £2,489 which she is liable for, is this what the £40pm allowence is for?

i am going into an IVA alone, as my wife has only one credit card in her name and therefore doesnt meet the criteria needed in terms of total amount owed.
So in my IVA there is an allowance for her to pay her credit card.
she also uses a car that i bought with a loan in my name alone. In my proposed IVA she is having to find a loan to buy the car from me, or we have to sell it and provide the money to the creditors.
Finally we have an over draft on our joint bank account which is is also liable for.so the upshot is that i will go into the IVA alone, she will be allowed an allowance to pay her credit card and to get a loan for the car, and she will remain liable for our bank account.

Her earnings are also taken into account when planning the I&E for my IVA and she will be allowed whatever she has spare (Which in this case is actually still a negative figure and needing to be resolved)

I understand what Melanie says above about my wife benfiting from the debt in the past, but it is a bit harsh on her in many ways. For example, if i had blown the loan money on a holiday rather than buying a car for her to go to work with, there would be nothing the creditors could do about asking her to pay back moneys (Whereas they are now claiming against the car) If we had sold the car there would be no recourse (sold it, but not cleared the loan that is, and i assume this happens all the time where people as paying off a loan long asfter the benefit of the loan has gone)
Is it normal for creditors to try and recover what the loan has been used against? i havent read exhausively on the subject, but i havent heard of this before on the forum, nor heard of anyone being asked to sell goods to pay for IVA contributions.

Whem you become insolvent - ie you find that you are in a position where you cannot afford to repay your creditors - your assets become at risk from the actions of creditors, and when IPs put together IVA proposals they have to address all assets which would vest in a Trustee in bankrupty and ensure that these are adequately dealt with within the IVA proposal.

The car which is being used by your wife, is an asset of yours, not hers, and the creditor who lent the money for the purchase of this vehicle - together with your other creditors - would need to see that someone else was not benefitting at your expense.

As you seem to have a number of queries and concerns about the way your IP is suggesting your IVA proposals be presented, I strongly urge you to arrange a further meeting with them as soon as possible so you can determine how to proceed. It is not too late to pull away from this firm, and choose someone else to represent you.

thanks Melanie. Interesting advice.

.

Hi Keith and Hallway

I'm the Director of External Affairs at Paymex Group (Blair Endersby is part of the group). I'll ask one of the Insolvency Practioners at Blair to post a replie re you posts but please feel free to contact me in the meantime with your contact details so we can look at the issues raised in more detail. *Telephone numbers and email addresses not allowed in posts.*