Will all debts have to be declared

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jerrylee

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Post by jerrylee » Tue Aug 28, 2007 3:22 pm
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Hi,
Will all debts have to be declared, ie my wife credit cards. also items such as home computer and childrens game console would they have to be sold?
regards
Never regret what you done in life, regret what you have not done,
final payment made
NOW THE WAIT
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Minnie

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Post by Minnie » Tue Aug 28, 2007 3:26 pm
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Hi John

Welcome to the Forum!

There are numerous experts that will be able to answer officially.

From my own experience of going through the process of hubby doing an IVA, I have had to detail all of my outgoings as well as hubbys. It is the overall household income and expenditure that will be looked into to ensure there will be sufficient disposable income to support an IVA and existing commitments from the 'non-IVA' partner.

Goods from the home are not sold.

Good luck.
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Adam Davies

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Post by Adam Davies » Tue Aug 28, 2007 4:57 pm
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Hi and welcome
If just one of you are entering into an IVA then just that persons debt and joint debt will be included.
Your home computer and games are all safe,as is your car as long as it,s not worth a small fortune.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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iva_squirrel

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Post by iva_squirrel » Tue Aug 28, 2007 8:22 pm
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Good evening John,

As Andy says, your home computer and games are all safe. Your wife's credit cards dont need to be included in your iva if it is a single iva however there should be a budget on your household expenses for her monthly cc payments.

Kind regards,



Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm
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