Husband -will he be affected by IVA

[aly]

I have aquired substantial debt which started before we married, all is in my name, if I enter and IVa will he be affected if we carry on living together?

[aguise]

Hi aly
He would be expected to contribute his part of the living expenditure, therefore if he earns the same as you he would be expected to pay 50% of the household bills etc. If he earns more then he would pay more , that is the only part of his income taken into account.

Ang

[iva experts]

Hi Aly,

Eventhough the debts were accumulated before you were married, in an IVA your monthly expenditure and income would have to be taken as a household.

Have you spoken to any debt solution companies to see whether an IVA is suited to you?

Best Regards. IVA Experts

[Oliver]

You will likely be committing to a joint income and expenditure budget but if you can show that he has not benefited from any of your debt then his expenditure (over and above paying his fair share) will not be as scrutinised by the creditors. If you own a house his equity will not be available to the creditors. His credit file will not be affected by the IVA.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[iva_squirrel]

Hi aly

It will be alright if you can prove that your debts were for your own benefit.
However his income and expenditure will have to be included.

Regards,
michelle P.