Divorce / Seperation

[SharonOR]

Hi Folks

Gosh haven't been on here for ages. Hope everyone is well. I have a sad question. What happens to an IVA if the couple get a seperation or divorce? Can the IVA be "paid up" with no further payments. There is only 24 months to go, but I will not be able to keep the payments up on my own.

[Shining]

Hi Sharon, I do believe an interlocking IVA can be separated, not sure about the 'paid up' part I think that would depend on circumstances etc.,

I would definitely talk to your IP to find out their opinion and a way forward for you. A professional will be along soon I'm sure to answer your question fully.

Hope you're ok?

[SharonOR]

Thanks Lesley, I have a call in to them but thought I could get a quick reply here, that I trusted. I never thought life could get quite this bad.[:(]

[Shining]

Oh Sharon, I do hope things work out for you. Forum is a little quiet this morning, everyone busy I expect but do stick around someone with a more definitive answer will be along I'm sure. {{hug}}

[kallis3]

Sharon, I am so sorry to hear that you might be seperating and I hope that things can work out for you both.

You can seperate your IVA's, you would then both be responsible for your own payments.

You can ask your IP if the creditors will accept the payments, no one will want it to fail now.

[MelanieGiles]

If you can no longer afford to maintain your IVA payments as a result of your separation, then your IP could suggest that the IVA be concluded on the basis of what has already been paid in - so I suggest you have a chat with them to explore that option further.

[Skippy]

I'm sorry to hear that you are separating Sharon, and good luck speaking to your IP.

Let us know how you get on xxx

[Locko]

Good luck Sharon, try to keep your chin up. My husband has just told me he is moving out after christmas which will be hard but as I am the main bread winner I am hoping I can keep the house and sort something out with my IP. I know its really hard but sometimes its for the best. Good luck Locko

[Shining]

Hi Locko, sorry to hear about your hubby moving out, remember where we are if you need us won't you. x

[Skippy]

I'm sorry to hear that Locko. Good luck for the future, and as Lesley says you know where we are if you need us x

[kallis3]

Locko, I'm so sorry to hear your news.

As the others have said, you know where we are if you need any support and advice.

[SharonOR]

What is it with this year that things seem to be getting worse instead of better. Locko sorry to hear you're in the same boat. I will not be able to keep up payments as I still have my aged parents to look out for as well and my dad is in very poor health after a terrible bout of swine flu. Well hold thumbs things will get better for both of us. What a sad Christmas this is going to be for a lot of folk.

[kallis3]

Sharon, I am sorry to hear about your parents and hope that things get better for next year.

[Shining]

I would like to wish everyone a healthy, peaceful and prosperous 2010 x

[kallis3]

Same from me as well.