Can anybody help me please.....

[c_h]

Hi,

Me and my wife went into an IVA together in February 2006. May i say at this point all the debt was hers. However, since then we have split up. The marital home is only just exchanging (today) and any equity will be paid to the IVA company. However, even though we are getting divorced the IVA company still said we have to continue paying as we were in joint names - even though they are taking the equity of my house which is 12k - so they are getting this as an extra as far as i can see.

However, they have now written and said that because my pension at work could not be cancelled in Feb 06 at the start of the IVA they say we owe them an extra £2000. Can they do this? surely if they wanted extra money in the beginning they had to tell us that then, not when its added up and now at an amount neither me or my ex-wife can afford? Anyway, my point it, if we are giving them 12k any day now that they were not getting before could they not knock it off that?? and do i really have to give them all the equity? i thought lump sum amounts had to be shared between us and IVA company as 50%?
Could anybody please help because its been going on so long im ready to tell them just to bankrupt me - especially as none of the debt is mine in the first place![V]

[go_4_broke]

ch

I will leave it up to others better placed to help you with the technical details but I seriously sympathise.

However your IVA provider sounds rubbish - would you care to name names ?

Best

New to the forums - but not to debt !

[c_h]

Well i deal with debt free direct mainly but the Supervisor of the IVA is Thomas Redman?

[go_4_broke]

I believe DFD is the largest UK IVA provider and according to a recent quote, 'is campaigning for better standards in the industry'. Unforunately that doesn't seem to agree with your experience !

New to the forums - but not to debt !

[c_h]

sorry if anyone could still see if they can help me with my original question, i would be so so grateful...
thanks xx

[MelanieGiles]

Hi c h - I will try!

Firstly I do not understand why you are in an IVA if you did not have any debts. Can you explain this to me? Is it perhaps that you are jointly liable for some debts taken out by your wife but in joint names?

Secondly, you will need to revert to the terms of your specific proposal with regard to the treatment of the property. Was it included in the IVA? If it was, then your 50% argument does not work.

Finally, were you required to stop your pension contributions and pay an equivalent sum into the IVA on a monthly basis? If so, are you saying that the IVA company have been taking the wrong amounts from you which has led to £2,000 in arrears being built up?

Get me the answers to the above, and I will be able to advise you properly.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk