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Joint debt and unhappy with Hanover

Posted: Wed Mar 04, 2020 6:55 am
by neil993
Hi
My question is I am currently in an IVA with hanover insolvency. One of my debts on my iva is for a joint account, this account has been given to a collecting agency and are asking the full amount from my partner, even though I have been paying my monthly iva payments for a yer without missing a payment. I have contacted Hanover on 4 occasions over this mater and have been given four different answers to the same question, 1) all covered under my iva. 2) didn't now 3) 50% is covered 4) my partner has to pay all. please can someone help.. Also how do I complain about the way hanover insolvency have treated me....

Thanks in advance Neil

Re: <t>Joint debt and unhappy with Hanover</t>

Posted: Wed Mar 04, 2020 7:54 am
by Foggy
Hi Neil. I am afraid that, in a joint debt, if one party defaults then the other party is fully responsible for the whole debt. The solvent party has to make arrangements with the creditor to repay the full amount. Your IVA merely 'protects' you from that debt.

You can complain using the Government Gateway here: https://www.gov.uk/complain-about-insol ... actitioner once you have made a formal complaint to Hanover direct and got no resolution.

Re: <t>Joint debt and unhappy with Hanover</t>

Posted: Wed Mar 04, 2020 12:34 pm
by Lisa Thomas
The joint guarantor can unfortunately be held responsible for the full debt. If they pay it off they can then claim in the IVA as a subrogated creditor and claim for any dividends.