Joint loan - in IVA / Not in IVA
Posted: Wed Nov 09, 2022 3:25 pm
Hi All,
I wanted to get some independent advice on a join loan me and my wife have together.
So we have a join loan with Hellidor Mortgages, which at the start of the IVA i believed was not in the agreement as the company could still chase my wife for the full amount of the debt.
After our first annual statement it would appear that this debt is part of the agreement, and therefore have received payments from the IVA pot - but we have also being paying them the original / normal monthly payments. Bonus is the balance is coming down quicker than expected
My questions relates to 2 aspects,
- Should the loan have been included originally
- My IVA company advise that Helidor should not be adding any interest to the outstanding debt, but as the BofE rate increases - so do our payments - is this correct - and should I be contacting Helidor to discuss what can be done. I guess hellidor are being treated more favourably compared to other companies and as i understand it - that is not correct.
Any advice would be welcome
Thanks for reading
I wanted to get some independent advice on a join loan me and my wife have together.
So we have a join loan with Hellidor Mortgages, which at the start of the IVA i believed was not in the agreement as the company could still chase my wife for the full amount of the debt.
After our first annual statement it would appear that this debt is part of the agreement, and therefore have received payments from the IVA pot - but we have also being paying them the original / normal monthly payments. Bonus is the balance is coming down quicker than expected
My questions relates to 2 aspects,
- Should the loan have been included originally
- My IVA company advise that Helidor should not be adding any interest to the outstanding debt, but as the BofE rate increases - so do our payments - is this correct - and should I be contacting Helidor to discuss what can be done. I guess hellidor are being treated more favourably compared to other companies and as i understand it - that is not correct.
Any advice would be welcome
Thanks for reading