www.iva.co.uk

Evening. I have been in an IVA for a year now and just had my review. I have reiceved the creditors file and noticed that one of the debts totals £180000 that the creditor is claiming for. However my partner of whom this was a joint debt is paying towards half of this debt seperatly as an agreement with them. The reason for this debt was our house was re-possessed and the shortfall was £18k. So i dont understand why they are claiming the full amount of £18000 when they are receieving £9000 as a seperate agreement from my partner whoi is not in an IVA. I hope i have made sense in explaining myself but my point is this debt should be reduced for my half im thinking otherwise they are unfiarly recieving a higher dividend than the other creditors? Many Thanks

Hi,

With a joint debt you are both jointly and seperately liable for it and your partner will be chased for the whole amount.

The creditor will receive whatever dividend has been agreed in your IVA. Your partner's arrangement with them will be seperate.

You will always owe the full amount until your IVA as completed.

Correct, you are both liable. however, any dividend received against that debt will come off the balance in total. In effect, if you pay back 6k out of 18k then he will only owe 12k instead of the full 18k.

Hope this makes sense.

Regards.