how will my wife be affected?

[bertboy]

If i take an IVA my wifes income/exspenses are taken into account, if approved how will she be affected?

[Viki.W]

Hey bertboy, welcome to the forum. If the IVA is in your name only then your wife wouldn't really be affected, her income is taken into account to make sure you are both paying your equal share of the bills. Viki X

[Adam Davies]

Hi
Although some IVA providers and creditors will list your joint income and list your total joint outgoings with the remainder going into your sole IVA.The thinking behind this is that the creditors feel that the spouse who is not in the IVA will have benefited financially from the credit taken by the other person.
Check with potential IVA providers to see how they deal wih this
Regards

[bertboy]

Thanks for your reply, i have spoken to an IVA advisor and things are looking grim.
Money is so tight that she says i don't have enough to offer my credditors so her only sugestion is Bankrupcy, any other ideas?
Bertboy

[abc]

What is your surplus after your joint income and expenses and what is the total of your creditors?

[bertboy]

Total debt £16,300 no surplus, overdrawing overdraft every month so getting hammered with charges aswell

[MelanieGiles]

If you have no surplus income, then an IVA cannot possible be a solution for you. I can see no alternative but bankruptcy proceedings I am afraid.