I would like to start an Iva but am worried that my partners money in our joint mortgage account will be taken.
So the money in our joint mortgage account is all hers and I don’t want it to be swallowed up to pay for my debts.? Do you know what my options are.? Will they take all this. Can she just transfer into her own account or could this cause problems when they review bank statements
As a joint account, it will be assumed that half of the money is yours.What sort of amount are we talking about ?
Moving assets just before declaring insolvency is not looked upon favourably and could amount to fraud. In bankruptcy this would be looked at and reversed if required. How far an IP in an IVA arrangement might dig is up to the IP involved and whether they are given any reason to dig.
Is an IVA the way to go ? What sort of debt are you looking at ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You need to speak to one or two companies for 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. http://kallis3.blogs.iva.co.uk
Whatever you do with the money in the account,you should make the account into the sole name of your girlfriend,otherwise you will be linked in credit searches and your IVA could impact on her credit rating. You should have no joint accounts at all.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
