IVA Split

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
User avatar
nina444
Posts: 4
by nina444 » Fri Oct 27, 2017 9:39 am
I want to find out how to split IVA between me and my ex husband. I have been advise that the way it's done is to check affordability and also to see who owns what.

As I know that most of the loan or in fact credit card was mainly on my ex husband name so in the moment when it will be divided into 2 separate accounts it won't be very fair on my ex to pay more then me as at the time we were using this money together.

Also as I mentioned on the phone I would like to return to Poland and my parents offered me help to pay IVA off but only my half.

I would like you to tell me whether is possible for me to pay half of the amount we own together to make me debt free instead leaving most of it to pay for My ex as I want to be fair with him.

As I am aware my ex would like to carry on paying his monthly instalments till the end of IVA from what will remain after I will pay off half of the debt.

Please advise and answer to my quieries as soon as possible.

This would be highly appreciated.

Kind Regards
Nina
User avatar
Foggy
Forum Expert
Posts: 24127
Contact
by Foggy » Fri Oct 27, 2017 10:49 am
Hi Nina. I am afraid that you cannot take away any of the debt in your ex husband's name. You could, privately, agree a small sum to pay him monthly to put towards what you think is your share of his debt, but the IP would not get involved in this as it is outside of the IVA.
User avatar
Lisa Thomas
Industry Expert
Posts: 6026
Contact
by Lisa Thomas » Fri Oct 27, 2017 1:31 pm
If I have understood you correctly you are both in an interlocking IVA?

You could unlock the IVA and put forward a settlement proposal for your share of the debt.
User avatar
Foggy
Forum Expert
Posts: 24127
Contact
by Foggy » Fri Oct 27, 2017 1:57 pm
Lisa Thomas wrote:
If I have understood you correctly you are both in an interlocking IVA?

You could unlock the IVA and put forward a settlement proposal for your share of the debt.


The complication here, as I understand it, Lisa, is that Nina acknowledges that some of the debt in her ex husband's name was, in fact, something she benefitted from and she wants to be fair to her ex. Now, obviously, there is no way to accomodate this when the IVA's are split, so any "balancing out" of responsibility has to be a private arrangement between the two, whilst the ex continues with his own IVA once seperated.
User avatar
Lisa Thomas
Industry Expert
Posts: 6026
Contact
by Lisa Thomas » Mon Oct 30, 2017 9:31 am
I would think the creditors might accept 50% of the debt in each IVA.
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: Google [Bot] and 27 guests