will my iva affect my partner,s credit rating

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julie.e

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Post by julie.e » Tue May 13, 2008 9:05 pm
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if i go for an iva will it affect my partner,s credit rating who i live with. i have £14700 debt on 1 credit card 1 loan but am on incapaticty benifit £93 pw and am not working.
thanks
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Viki.W

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Post by Viki.W » Tue May 13, 2008 9:09 pm
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Hey julie, welcome to the forum. Have you looked at all the options or received any advice from an insolvency practitioner because I don't think you could do an IVA. Hang in there and an expert will be along shortly to help you. Viki X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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angela18

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Post by angela18 » Tue May 13, 2008 9:11 pm
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i tend to agree with Viki, but i'm sure melanie will be along shortly to give you options. Almost sure debt has to be more than 15,000
Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx
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Adam Davies

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Post by Adam Davies » Tue May 13, 2008 9:30 pm
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HiJulie
An IVA will not be possible if your sole income is benefits.You also need at least three lines of credit from two creditors for an IVA to be viable.
Have you considered bankruptcy ?
Both an IVA or bankruptcy may affect your partners credit rating
Regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Tue May 13, 2008 9:40 pm
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It is a real shame that Debt Relief Orders have still not been introduced, as this poster would be an ideal candidate for one.
Regards, Melanie Giles, Insolvency Practitioner
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Viki.W

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Post by Viki.W » Tue May 13, 2008 9:42 pm
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what's a debt relief order Melanie?
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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MelanieGiles

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Post by MelanieGiles » Tue May 13, 2008 9:54 pm
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It's a new styled procedure, which hasn't actually been introduced yet, which allows someone with debts less than £15,000, assets less than £300 and disposable income of less than £50 to apply for a much simpler relief from their debts other than bankruptcy. This will not cost as much as bankruptcy, and avoids the need to go to Court, and debts are still discharged after one year.
Regards, Melanie Giles, Insolvency Practitioner
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