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Posted: Fri Jan 16, 2009 8:12 am
by NoleendDaley
If you are a couple can you enter into an IVA together? Considering some of the debts may be shared.
Posted: Fri Jan 16, 2009 8:26 am
by Beans on Toast
Hi and welcome to the forum, you will have seperate IVA's but it can be classed as a joint interlocking IVA producing one monthly payment between you.
Posted: Fri Jan 16, 2009 11:13 am
by Michael Peoples
It depends on your individual circumstances as often the debt is heavily weighted in one direction but the other partner is the bigger earner. One partner may be insolvent and the other not. Speak to an IP who can give proper advice for what are the best options.
Posted: Fri Jan 16, 2009 5:14 pm
by kallis3
Ours are totally seperate, even though some of the loans were joint. We make two seperate payments per month.
Posted: Fri Jan 16, 2009 5:39 pm
by MelanieGiles
If one partner is insolvent and the other is not, then the non-insolvent partner would not qualify for an IVA.
I think it is fair to say that the majority of couples, who are in debt, would propose their cases on a mutual and interlocking basis, generally due to affordability, however if the opportunity does arise - and this will increase with the relaxation of hurdle rates previously imposed by creditors - then we may see more completely "individual" arrangements.