Hi, what if one of my loans is in joint names

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OnTheUp

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Post by OnTheUp » Tue Jun 01, 2010 6:02 pm
Hi, what if one of my loans is in joint names but all other is just me - do I get just a single IVA or will my partner be involved?
 
 

kallis3

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Post by kallis3 » Tue Jun 01, 2010 6:12 pm
Hi and welcome to the forum.

If one of your loans is in joint names, then it will be included in an IVA but your partner will then become liable for the whole amount as you are jointly and severally liable for the debt.

Your partner would have to continue paying at the full rate.

I recommend that you take some professional advice. Visit www.iva.com for a list of companies and reviews and you will receive free and impartial advice.
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.
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