www.iva.co.uk

hello, my wife is about to start a IVA with debts of 34k, now all we are worried about is the baliafs knocking on the door, if we go through the correct chaneels with an debt agency can this still happen?

Hi,

It is unlikely that anyone will call at your house. Sometimes debt collectors threaten that they will call, but rarely do. On the occasions they have called on posters they have been very polite, particularly when they find out you are going for an IVA.

Baillifs need a court order to attend and remove goods.

You can find out more about them via this link:

http://www.direct.gov.uk/en/MoneyTaxAnd ... G_10034289

basically i have 34k worth of debt, a mortgage of 90k house is worth 105k, now all of the debt is mine and in my name, and all i'm worried about is that if i do take a IVA out to solve matters, will my husband loose his car of which he owns worth 10k?

Hi,

Your husbands car should be ok. However, he may well be deemed to have benefited from your debts and be expected to contribute towards your IVA.

You will also be expected to release some of your share of the equity in the house in the fourth year of an IVA. If you can't get a remortgate, you are usually expected to continue for a further 12 months.

I am assuming that both Mr Omg and Mrs Omg are posting on the same thread under the same forum name - otherwise I am getting confused!

I hadn't clocked that Mel!

no, just misses OMG on here..

I think the only reason Mel commented is that in your first post you said 'my wife', and then afterwards you were referring to yourself.

Just a little confusing.

Hi
You will not have bailiffs knocking at your door if you use a reputable company, there simply will not be time for this to happen.
The car should be fine as your husband is not part of the IVA and 10k is not an excessive family car
Regards

I have lived in my home for 13 months but regularly get letters and phone calls treatening bailiffs for the previous occupents - I think it is therefore fair to say you have quite some time before they come and if you have a solution in place you shouldn't ever see them.

We have had posters who have been visited by debt collectors - Viki is one who springs to mind. Her visit came just before her creditor meeting.

I was threatened by Mercers, never materialised.

I think it was Mercers who called on Viki, but she did say they were polite.

They never came round to mine either although they threatened me enough times!

There are due processes that bailiffs are required to follow and as Andy said, they're unlikely to have the time now before the meeting is convened.