Will he have to pay the original debt amount when he receives his divorce settlement? Or will they allow him to carry on with the monthly payment agreed?
His debt is 40k paying £130 a month for 6 years .
Divorce settlement around 60k thank you
If you paid him a settlement it would fall into his IVA under the windfall clause and would have to be paid over unless and until all of his debts, costs and interest were paid in full so effectively you may well end up paying the joint debts off/his debts in a circular fashion through any settlement you pay him..
His IVA will be used to deal with his debts with his money, not yours. However, if you have any joint loans (even if included in his IVA) you will be responsible for those in their entirety.
Who is onlineUsers browsing this forum: No registered users and 22 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, IVA.com Group Limited will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location