who would be responsible for our IVA

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judith.e

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Post by judith.e » Tue Apr 24, 2007 4:51 pm
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I HAVE A JOINT IVA WITH MY HUSBAND. IT IS MADE UP OF 1/4 MY DEBT AND 3/4 HIS. I AM IN A POSITION WHERE DUE TO HIS INFIDELITY I AM SERIOUSLY CONSIDERING DIVORCE. WHAT WOULD HAPPEN TO MY IVA IN THIS CIRCUMSTANCE. MY ORIGINAL DEBT WAS £35K. WE HAVE PAID FOR 16 MONTHS. MY ANNUAL SALARY IS NOW £32K. I HAD NO PROBLEMS PAYING MY DEBT BUT DUE TO MY HUSBANDS DEBT WE WERE ADVISED A JOINT IVA. WOULD I BE RESPONSIBLE FOR THE DEBT HE TOOK INTO THE IVA IF WE SPLIT OR WOULD IT BE SEPARATED?
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Oliver

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Post by Oliver » Tue Apr 24, 2007 5:09 pm
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It is very important that you speak with your IP regarding this matter as soon as you can. There are a number of options ranging from continuing to pay the agreed amount between the both of you, to potentially failing this IVA and starting again. It is important that you discuss these different routes with your IP at length so you know oyur full range of options.

Best Regards
Oliver

Thomas Charles and Co Ltd.
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Oliver
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