Divorce and a joint IVA

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Post by natalie435 » Thu Oct 03, 2019 6:13 pm
I’m in a joint Iva and I want to separate from my husband as we are getting a divorce. How do I do this ?


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Post by Foggy » Thu Oct 03, 2019 6:28 pm
First -- there is no such thing as a joint IVA. You will each have your own arrangement ... but, for administrative purposes they will probably have been made interlocking. They can be seperated, though IP's don't like to do this, and you can each carry on with your own arrangements and making your own payments --- it gets awkward for the IP if there are joint debts and / or you own a property together, but it is not insurmountable.
The alternative is that you still work together to carry on as now, leaving the iVAs connected and split the monthly payment between the two of you.
Depending on what happens with your living arrangements, a new I&E might have to be gone through to determine affordable payments.

Speak to your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Lisa Thomas

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Post by Lisa Thomas » Fri Oct 04, 2019 8:21 am
You need to speak to your IP to unlock the interlocking IVAs.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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