Didn't inform the loan company of IVA

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kullboys
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by kullboys » Sat Mar 03, 2018 6:56 am
Hello everyone
I am now divorced. However, when I was married, myself and my (now ex) wife got a secured loan on the property we were in at the time; to pay off some debts. When we got divorced, I agreed to pay the full monthly amount on this debt as she had a young child, mortgage etc to pay. I am still paying the full amount, she doesnt pay a penny. However, BOTH our names are on the loan. I recently found out that she is now on an IVA and is 4 years into it. She didnt inform the loan company of whom i speak, of this IVA.....should she have done this ? As this could alleviate some or all of my debt.
Thanks
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Foggy
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by Foggy » Sat Mar 03, 2018 12:08 pm
Being a secured loan it would not have been covered by the IVA payments and would still need paying, so I am afraid that the IVA would not absolve you from this undertaking.
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