me and my husband took out a loan jointly some years ago, having experienced some financial difficulties a couple of year ago my husband took out an iva which included the joint loan, now after 3 years a debt company has been sending me letters demanding i pay the loan back,having contacted my husbands iva company they told us to forward all letters and they would take care of it. my husbands currently paying £367 a month iva and theres no way we could afford to pay anymore,can the loan company still come after me even though my husband is paying something towardws ti each month through his iva? im worried sick.
Hi Vicki and welcome to the Forum.
The original IVA must have made allowance for you to make at least some payment to the loan as you are liable. If your income has reduced you will need to do an income and expenditure account and pay what you can to the debt.
Get your husband to speak to his IP and perhaps his payments can be reduced a bit to allow you to pay something and the balance can be cleared when his IVA is over.
Your husbands I&E should've goven you an allowance for the contractual payment to be made if it was a joint loan. You need to check the proposal to see if it there.
