Hi, if a debt is in a joint name,

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
 
 

nicky.x

User avatar
Posts: 1
Joined: Fri May 28, 2010 8:22 pm

Post by nicky.x » Fri May 28, 2010 8:22 pm
Hi, if a debt is in a joint name, but is accepted in an IVA in only one of those names, would the other person still be liable? Or would it just be the responsibility of the person in the IVA to pay back the agreed monthly amount?
 
 

kallis3

User avatar
Forum Expert
Posts: 77170
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri May 28, 2010 8:25 pm
Hi and welcome to the forum.

If you have joint debts and one of you enters an IVA then the other one becomes liable for the whole amount as you are both jointly and severally liable for the debt.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Julie

User avatar
Posts: 9503
Joined: Thu Feb 14, 2008 10:56 pm
Location: United Kingdom

Post by Julie » Sat May 29, 2010 7:59 pm
Hi,

As Jan says the other person would be liable and the creditor will chase for the repayment.
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Sun May 30, 2010 9:50 am
Hi and welcome to the forum , I'm sure the above answers your question but if you have anymore don't hesitate to post. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”