www.iva.co.uk

No IVA for me then as wont go into this unless supported by my wife - fully understand where she is coming from though.

Lookes like another few years of stress and being less than skint for me.

That is a shame - it did seem to be the best solution for you. What are her objections, and what is your plan to deal with the debts now?

What does she object to?

You could look at doing a DMP.

Sorry to read that iambroke but respect your decision that yu require your wife's support.

As Niobe says there are other debt solutions and hopefully one of them will be right for you and via this or IVA you will be debt free one day x

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

That is a shame - it did seem to be the best solution for you. What are her objections, and what is your plan to deal with the debts now?

IVA will effect our ability to get a mortgage if / when we sell this house.

Stays on credit file for years and may effect her credit rating.

Not honourable thing to do.

Pee'd off that I had promised to be better with money -had told her about my BR years back.



Going to try and find a part time job I can do at night to bring in extra funds.

In fairness to her she has offered me the last of her inheritence from her late father but its all she has to 1 side for her safety net so as these debts are my problem I cannot take it. She is better with money than me so think I will be turning over the running of the household bill accounts over to her.

This is turning into a blog !

I am not on our Iva as the debts were in husbands name and i have no objection to him sorting it out ..Once it gets paid off and things return to normal i know we can sell the house and move on but until then we are stuck..
Sorting the debts out was priority as allthough i am not on them as i am not a wage earner its got to be sorted..I hope you manage to get something sorted as having debt hanging over your head isnt a great feeling.

HiIambroke. You must, of course, be guided by your own mind ( and the wife's ! )and your chosen course is for you to decide as a couple.

I would, however, caution you to keep an eye on the debts, as they can quickly melt down and take things out of your hands. Maybe discuss a DMP ( or even let the wife manage a DIY DMP for you).

I can appreciate the objections, but, if you start collecting defaults then maybe charging orders the effects can be just as devastating.

So ... keep your eye on the ball, best of luck and stay around the forum to let us know how you are getting on and have a chat.

I think that charging orders are going to cause massive problems for homeowners once the new legislation arrives in October.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

I think that charging orders are going to cause massive problems for homeowners once the new legislation arrives in October.

Will this new legislation cause issues with a CCJ that was placed about 4 weeks before the IVA was in place?

Hi Fingers

This new legislation does not apply to any judgment or order under which a debtor is required to pay a sum of money by instalments that was made before 1 October 2012.

Hi iambroke - I have been on leave so just catching up on threads. Sorry to hear your wife has concerns enough to prevent you from being able to look at an IVA. Has she spoken to anyone yet to be able to chat things through herself as this can often help. I often find that the other half like to have a chat first hand to air their concerns and hear things directly.

I can fully appreciate the concerns you have listed but these will not be removed by looking at a DMP necessarily, and of course you would then have the added uncertainty of not having the pritection that an IVA gives you. Clients have successfully for mortgages after being in an IVA and the register on your credit file is only for 6 years. It will not affect hers if you do not have any joint debts and she can put a notice of disassociation on her file if she wants to.

I understand you will look at a second job but it is also important to look at the long term benefit of this and what impact they may have on the family if you are under the pressure to make the full repayments.

It might be worth having a further chat about it rather than discounting the option altogether.