www.iva.co.uk

Hi There,

My husband and I both owe money, some of it individually though we have a couple of joint commitments too.

My query is, will we need to have two seperate IVA's and therefor be charges two lots of IP fees, or will there just be one agreement?

This also affects the balance of who we owe the money to, I would owe mostly to the HSBC whereas my husband would have a mix, and HSBC would not be his main creditor. Would this mean that I have to meet 40p/£1 + but would my husband be in a position to make lower offer?

Regards
flowerpot

Hi flowerpot

It will really depend upon your actual circumstances. IPs should always propose separate IVAs if it is possible to do so, and the fees should therefore be halved across the two cases. Sometimes, when both parties in a relationship cannot afford to do stand alone IVAs, the IP will suggest joint and interlocking proposals which are mutually reliant on each other, and result in one combined payment being made and creditors sharing an equal dividend.

What has the IP who you have chosen to represent you advised in this regard?

Hi Melanie,

Thank-you for your consistant and responsible advice. I have filled in an enquiry form on your website as i would like to discuss further with you. I contactable at home this morning and look forward to hearing from you.

Regards
flowerpot