Can you please advise me on my current situation; me and my ex partner have split up and have a number of loans in joint names totalling £36,000 approximately; I have contacted a company about entering an IVA and they have provided me with figures for the IVA, the figures are £11,000 (approx.) paying back over 5 years then £25,000 (approx)cleared off after the 5 years, my query is with me paying this amount but my ex partner seems to be getting away with not paying anything, can you please advise me how the IVA wors when a couple split up?
You will after a minimum term of 5 years be debt free. Your partner will still be liable for the full amount (less what you may have paid back after fees) of any joint debts.
7 years after starting an IVA I finally received a completion certificate from ClearDebt
It would be now better to look at completely separate solutions for both of you. Concentrate on resolving your own situation, and if your ex-husband does not want to join in he can always consider bankruptcy. Although bankruptcy is much easier now, it is still probably not deemed to be getting away with it.
