break up

10 posts Page 1 of 1
 
 

tinytori

User avatar
Posts: 141
Joined: Wed Jun 13, 2007 5:58 am
Location:

Post by tinytori » Mon Jun 30, 2008 12:21 pm
if ur in a joint IVA and u split up from ur partner what happens????????
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9559
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom

Post by plasticdaft » Mon Jun 30, 2008 12:46 pm
I believe that the IVA can be continued without much hassle. If you are living seperately you may find your cost of living has increased making it harder to make the payments,but your IP is best placed to sort things out for you.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

zoe

User avatar
Posts: 459
Joined: Fri Jan 19, 2007 3:59 pm
Location: United Kingdom

Post by zoe » Mon Jun 30, 2008 1:42 pm
I dont think that there is such a thing as a Joint IVA - but one of the experts may be able to shed some light
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9559
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom

Post by plasticdaft » Mon Jun 30, 2008 2:09 pm
Are the IVA's not often interlinked in couples?? Not joint as such and in no way can an IVA enforce people to stay together!!
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

zoe

User avatar
Posts: 459
Joined: Fri Jan 19, 2007 3:59 pm
Location: United Kingdom

Post by zoe » Mon Jun 30, 2008 2:13 pm
Not what i meant!!!
Obviously there is a way around this - what i was trying to say (perhaps not well) was that it is not a Joint IVA, therefore should not be dependent on another person!
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Mon Jun 30, 2008 2:14 pm
Firstly you need to see if you and your partner can continue to make the payments by each paying share. If not, then the IVAs may have to be formally separated and then operated as stand alone IVAs in the future. You should seek advice from your insolvency practitioner if this affects you.
Regards, Melanie Giles, Insolvency Practitioner
 
 

tinytori

User avatar
Posts: 141
Joined: Wed Jun 13, 2007 5:58 am
Location:

Post by tinytori » Mon Jun 30, 2008 2:48 pm
so all we need to do is each pay half???
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9559
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom

Post by plasticdaft » Mon Jun 30, 2008 4:07 pm
Mel,what would happen if it was continued as a linked IVA but one partner stopped paying and it failed??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Mon Jun 30, 2008 4:26 pm
If I were the IP I would work out how to keep the compliant IVA going, or to vary it to suit the individual circumstances.
Regards, Melanie Giles, Insolvency Practitioner
 
 

tinytori

User avatar
Posts: 141
Joined: Wed Jun 13, 2007 5:58 am
Location:

Post by tinytori » Mon Jun 30, 2008 7:41 pm
I spoke to my IP and he said bascailly we can continue aslong as the payment is being made, so we can just half the payment, but he also said they would do any outings and incomings again! It all sounded pretty straight forward to be honest!!
10 posts Page 1 of 1
Return to “postings for june”