Joint IVA?

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Post by char » Mon Sep 10, 2018 9:29 pm
Myself and my husband are in seperate debt management plans and i will be paying mine for another 7 years and my husband 3.5 years already paid 4 years.

We are struggling with the amount we pay out can we start a joint iva?

We earn about 2800 a month, have 2 kids and my husband pays child maintinace. In debts currently pay 433 out. Also pay 95 on car finance about 18 months left on this. 533 including car.

We owe about 25k without the car about 27k with car

Alot of the creditors have sold the debt on to debt collection agencys like wescot etc can they be included on a iva?

How much could we realistically look at paying to iva?


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Post by Foggy » Tue Sep 11, 2018 6:56 am
You would probably be paying about the same, but for another 6 years ! You have more ability to lower payments in a DMP -- have you discussed the difficulties with the budget with your DMP provider ?
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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Post by kallis3 » Tue Sep 11, 2018 9:03 am
Also, it won't be a joint one but an interlocking one.
Sharing from experiences of dealing with debt
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Post by Lisa Thomas » Tue Sep 11, 2018 10:40 am
I'm not sure interlocking IVA's will be suitable for you given the length of time you have left to clear the debts in full via the existing DMPs.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: ... Z5k9ZcC2MA 01752 786800
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