Hi there.
I have quite alot of debt and wanted to look at getting an iva - although i am married so would i have to include my husband or could i do it on my own?
As Mrs Skint and Melanie have said, whether your husband would need to be included or not will depend on whether or not he had any debts of his own and how much he owed. Even if your husband has no debts at all, your creditors will probably want to see his income included in your household income and expenditure so that they can see he is making a fair contribution to the household expenses.
You should really contact an Insolvency Practitoner in order to get full advice on the options open to you based on your particular circumstances.
Kind regards, Elizabeth Pywowarczuk, Insolvency Practitioner.
If you would like me to advise you about an IVA and if appropriate propose one for you, please visit my website at www.liberta.uk.com
hi
I have debts of 16000 = aloan visas and store cards. my husband also has debt but we can manage his it s mine i am struggling with. I have a loan with the bank i have mycurrent account with - would this be affected if i got an iva?
You should consider why you are struggling with your debts but your husband isn't. I presume that you keep your finances seperately?
Depending on your husband's level of debt, if he can afford the monthly payments and you are both paying a fair contribution to the household expenses, based on your respective incomes, then it may be possible for you to enter into an IVA.
Your debt is however, in the eyes of the creditors, on the low side. (Personally I think that any level of debt is high if you cannot afford the monthly payments.)
If you approach an Insolvency Practitoner, he or she will be able to give you full advice on the options open to you. This initial advice is normally free.
Kind regards, Elizabeth Pywowarczuk, Insolvency Practitioner.
If you would like me to advise you about an IVA and if appropriate propose one for you, please visit my website at www.liberta.uk.com
Hey n.5, welcome to the forum. If you do decide, after advice from a professional, that an IVA is the solution for you, then you would need to open a bank account at a bank that isn't linked to your creditors, so you would not be able to carry on with the one you have. Keep posting, ask as many question as you like, we're all here for advice and support.
We keep our finances together but my debts are the ones spiralling out of control - i wanted to just do it on my own as i am not on the mortgage so thought it would be simpler cos i have read that equity can be taken from the house if my husband got involved. My husband pays all the bills for the house and i have been paying my debts with my wages but now i am finding they are not enough and i have just had another baby so am struggling. I wanted to do it on my own to as my husband doesnt know the full extent of my debt and i wanted tom keep it that way[:(]
thanks
If your husband can manage his debts adequately, from his share of your joint disposable income, then he certainly does not need to consider any form of insolvency procedure.
It is possible to "go it alone", but can I stress how important it is to share your difficulties with your partner, as you are bound to need their support along the way. I am sure that your husband will be sympathetic, and will want to help support you where he can - both financially and emotionally.
