do we need two ivas ?

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Post by ken.rn » Thu Jul 29, 2010 10:50 am
i am married my wife has some cards in her name and so do i mortgage is joint as is second charge on house do we need two iva s

Michael Peoples

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Post by Michael Peoples » Thu Jul 29, 2010 11:07 am
There is no such thing as a joint proposal but many proposals are done as interlocking. It may be that two IVAs would not be best advice and any IP will look at each of your circumstances on an individual basis before giving advice.

It depends on the level of debt, equity, income etc and it is not unusual to find one party can repay their debts while the other needs some form of help.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
If you would like to talk to me about proposing an IVA or have any questions at all please visit


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Post by Shining » Thu Jul 29, 2010 11:47 am
Hi ken and welcome to the forum. I would definitely seek some professional advice by contacting 2 or 3 companies, case specific advice will be given and all debt solutions explained to you in full.

Try for a list of companies and some reviews of these.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.

Tina Shortland

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Post by Tina Shortland » Thu Jul 29, 2010 1:01 pm
Hi Ken - we have seen a number of times where a couples debts can be covered by two separate IVAs however this is only where sufficient disposable income is available for each party but it not enough to cover their normal monthly payments.

In other cases an interlocking IVA proposal is put forward to cover both lots of debts or an IVa is approproate for one party and a Debt Management Plan for another.

As the others have said speak to a couple of different companies to compare what you are told and to make sure you are happy moving forward.

Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.

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