Does an IVA have to involve my husband

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Post by louise618 » Wed Sep 11, 2019 9:48 am
If I get an IVA will it need to involve my husband?


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Post by Foggy » Wed Sep 11, 2019 9:54 am
No --- unless you have any joint loans or co-own your home. In the case of joint loans, he will become responsible for the whole loan and in the case of home ownership, he will have to agree to a restriction placed on the title deeds and to equity release towards the end of the IVA.
Most providers will want to see evidence of his income in order to work out the shares of household expenses (to calculate your disposable income). He can refuse (after all it is his business) in which case they normally assume a 50/50 split of expenses. Some providers will actually (or at least used to, I see little mention of it these days) include the income and work the IVA out on household income, which, effectively means that the solvent partner is paying some of the other partner's debt.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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