www.iva.co.uk

im considering taking out an iva, however im worried about any adverse affect it may have on my new wifes belongings and credit ratings . will she be affectd in any way ?

Whilst it shouldn't directly affect her it will in a way as presumably her income will need to be taken into account in determining how much you pay. The creditors are unlikley to go along with all the domestic expenses coming out of your income and completely ringfencing hers. The exception to this would be if you have only recently got together and all the debt pre-dated this in which case you might have grounds for doing so.

So far as the credit rating itself is concerned, it is difficult to say. Your IVA (or any pre-IVA defaults for that matter) will probably show up simply because you share the address. It should not really affect any credit applications she might make although, to a degree, it will depend on the potential creditors policy.

Ian

Consider having your wife file a Notice of Dissociation(sp?) with the reference agencies (Equifax, Experian, CallCredit). I'm not sure this officially works for husband/wife but if you're recently married with previous separate addresses and different surnames it's got to be worth a go. It informs potential creditors that you have no financial connection with the other people at the same address. Regards !