rescinded iva

Get expert opinion. This is the place for new questions to be posted.
14 posts Page 1 of 1
User avatar
dennis
Posts: 31
by dennis » Sat Oct 06, 2018 1:38 pm
hi I have an iva which is for joint debts with my ex so it was set up that both would have iva"s. my ex has been taken to court and the iva has been rescinded and supervisor now has nothing to do with her.
does that mean she is in breach and open to creditors to going after her personally for her a portion off the debt .and how will it effect me and my iva .
User avatar
kallis3
Forum Expert
Posts: 73800
Contact
by kallis3 » Sat Oct 06, 2018 1:49 pm
Hi, sounds as though she is in breach and her creditors can come after her but your IVA will be ok.
User avatar
Foggy
Forum Expert
Posts: 27498
Contact
by Foggy » Sat Oct 06, 2018 2:56 pm
You need to check with your IP about your own IVA and make sure it has been separated from hers. Some interlocking arrangements carry a clause staing the failure of one leads to the failure of the other, so this needs to be checked. Otherwise, if yours is still running, you are protected from joint debts and she will be responsible for the whole debt.

Why was she taken to court ? Was it in connection to the debt ? Will the same thing happen to you ?
User avatar
dennis
Posts: 31
by dennis » Sun Oct 07, 2018 6:13 pm
Foggy wrote:
You need to check with your IP about your own IVA and make sure it has been separated from hers. Some interlocking arrangements carry a clause staing the failure of one leads to the failure of the other, so this needs to be checked. Otherwise, if yours is still running, you are protected from joint debts and she will be responsible for the whole debt.

Why was she taken to court ? Was it in connection to the debt ? Will the same thing happen to you ?

she was taken to court for not paying iva my up has said it won't effect my iva but I was just checking as I have read that because they are joint they can still come after me ? my iva is about to complete does that mean that creditors cannot come after me for joint debts ?
User avatar
Foggy
Forum Expert
Posts: 27498
Contact
by Foggy » Sun Oct 07, 2018 6:26 pm
Your liability for the joint debts has been absolved by your IVA -- they are now solely her debts.
User avatar
dennis
Posts: 31
by dennis » Sun Oct 07, 2018 8:35 pm
Foggy wrote:
Your liability for the joint debts has been absolved by your IVA -- they are now solely her debts.

even if my iva completes does it still mean the joint debt creditors cannot chase me ?
User avatar
MerlinL14
Posts: 1513
by MerlinL14 » Sun Oct 07, 2018 9:12 pm
The joint debts liability would have been covered in your IVA, even once completed. Your ex won't be so lucky.
User avatar
Lisa Thomas
Industry Expert
Posts: 7110
Contact
by Lisa Thomas » Mon Oct 08, 2018 12:16 pm
The joint debts will be included in your IVA already.
User avatar
dennis
Posts: 31
by dennis » Mon Oct 08, 2018 9:17 pm
Lisa Thomas wrote:
The joint debts will be included in your IVA already.

Hi Lisa
how long should it take to get a completion certificate ?and if not issued in a certain time who do i complain to ?
User avatar
Foggy
Forum Expert
Posts: 27498
Contact
by Foggy » Tue Oct 09, 2018 6:46 am
It can take up to 6 months (which is extendable) after your last payment to get the completion certificate. Most firms do it within that generous timescale ... some firms take weeks, others around 2 or 3 months. A few will use the full 6 !

The same will apply to the termination certificate for the failed arrangement. although that clock starts ticking from when the IP decides to fail the arrangement, rather than the last payment made.
User avatar
Lisa Thomas
Industry Expert
Posts: 7110
Contact
by Lisa Thomas » Tue Oct 09, 2018 8:17 am
Up to 6 months.

You should first follow your IP firms' complaint procedure then if necessary escalate your complaint here:

https://www.gov.uk/complain-about-insol ... actitioner
User avatar
dennis
Posts: 31
by dennis » Tue Oct 09, 2018 5:14 pm
Lisa Thomas wrote:
Up to 6 months.

You should first follow your IP firms' complaint procedure then if necessary escalate your complaint here:

https://www.gov.uk/complain-about-insol ... actitioner

Lisa
I have looked at my agreement and it say that it is linked to my ex's iva and hers has been rescinded by the court .does that mean the creditors can come after me for the joint debt. or will my joint debts be covered by my iva
User avatar
kallis3
Forum Expert
Posts: 73800
Contact
by kallis3 » Tue Oct 09, 2018 5:21 pm
No - they cannot come after you.
User avatar
Lisa Thomas
Industry Expert
Posts: 7110
Contact
by Lisa Thomas » Wed Oct 10, 2018 8:37 am
I think I answered this point above - all of your joint debts will already be included in your IVA - (unless you incurred further debt post IVA).
14 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 37 guests