Posted: Mon Jul 04, 2011 4:22 pm
Hi,
OK, IVA started May 2010, but failed this March just gone. Massive change of circumstances, not envisaged at the time the IVA went through.
I moved in with a new partner (we didn't get together until after the IVA), October last year. Various things happened, but basically my partner lost most of her income, bar child benefit. This meant that my IVA had to fail.
Just in the last month my partner has started a new job and she is getting on well.
I have approximately £60k debt, my partner around £10k (charges and fees will have increased this by now).
We have 2 cars, but generally need them due to shift patterns not matching and school runs etc. We both work nearly 6 miles from home. The kids would have to walk 2 miles each way on school days. The youngest is 4.
One car is worth around £400 the other about £2000. We are both paying maintenance towards children our absent children. When all 5 children are down we need the 7-seater.
Could I even think of starting another IVA, or would that likely be refused? Would BR be most appropriate for us both? If my partners debts exceeded £15, could we have a joint IVA? Or alternatively, I go BR and my partner enters into a DMP.
In BR, we could lose one or both cars, and that would make life very difficult.
We rent, and the only assets have are 2 cars, modest domestic possessions (mostly 2nd hand stuff), and of course each other.
Any advice would be gratefully received.
OK, IVA started May 2010, but failed this March just gone. Massive change of circumstances, not envisaged at the time the IVA went through.
I moved in with a new partner (we didn't get together until after the IVA), October last year. Various things happened, but basically my partner lost most of her income, bar child benefit. This meant that my IVA had to fail.
Just in the last month my partner has started a new job and she is getting on well.
I have approximately £60k debt, my partner around £10k (charges and fees will have increased this by now).
We have 2 cars, but generally need them due to shift patterns not matching and school runs etc. We both work nearly 6 miles from home. The kids would have to walk 2 miles each way on school days. The youngest is 4.
One car is worth around £400 the other about £2000. We are both paying maintenance towards children our absent children. When all 5 children are down we need the 7-seater.
Could I even think of starting another IVA, or would that likely be refused? Would BR be most appropriate for us both? If my partners debts exceeded £15, could we have a joint IVA? Or alternatively, I go BR and my partner enters into a DMP.
In BR, we could lose one or both cars, and that would make life very difficult.
We rent, and the only assets have are 2 cars, modest domestic possessions (mostly 2nd hand stuff), and of course each other.
Any advice would be gratefully received.