unsecured loan with person now out of touch

2 posts Page 1 of 1
Post Reply
 
 

eddy

User avatar
Posts: 1
Joined: Thu Jan 24, 2008 8:02 pm
Location:
Post by eddy » Thu Jan 24, 2008 11:07 pm
Quote
If I have an unsecured loan with a previous partners name on it(who I am not in touch with anymore)as well as my name, though the debt is 100% mine, what would happen if I were to apply for an IVA - would she be brought into the equation?
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Thu Jan 24, 2008 11:16 pm
Quote
Hi eddy and welcome to the forum

If your partner is jointly liable for the debt, then she is just as responsible for repaying it as you are. If you were to enter into an IVA, the creditor would most likely chase her for full repayment. This is unfortunately the danger of joint and several liabilities.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
Top
Post Reply
2 posts Page 1 of 1
Return to “postings for january”