I have debts of about 18,000 pounds

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helly

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Post by helly » Mon Sep 03, 2007 7:10 pm
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I have debts of about £18,000 on top of this my partner & I have a joint managed loan of £31,000 do we do a joint iva?
Last edited by helly on Mon Sep 03, 2007 7:40 pm, edited 1 time in total.
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MelanieGiles

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Post by MelanieGiles » Mon Sep 03, 2007 8:08 pm
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Hi Helly and welcome the the forum

If your partner only has one debt then an IVA is unlikely to be a solution for them, but it may be possible for you to propose one. Would your partner be able to continue making the contractual payments on the loan if you were to enter into an IVA?

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

Appoint me as your IP:
http://www.melaniegiles.com/ivaEnquiry.asp
Regards, Melanie Giles, Insolvency Practitioner
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helly

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Post by helly » Wed Sep 05, 2007 8:46 pm
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it`s usually £312 a month, would he have to pay half that whilst my half would be dealt by an iva.i only work 16hrs a week would i be able to take out an iva on my own. would they expect some money to come out of his wages or just mine, I`m sorry to bombard you with so many questions....... my head is spinning I really don`t know what to do for the best
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MelanieGiles

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Post by MelanieGiles » Wed Sep 05, 2007 10:21 pm
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With joint debts, you are both responsible for the whole lot, so if you entered into an IVA or went bankrupt the bank would pursue your partner for the full contractual payments.

In principle there is nothing to stop you proposing and IVA if you are able to afford it on your own - but as you are only working on a part-time basis I would question whether this is affordable. I suggest you arrange to speak with an insolvency practitioner or debt management compaby for more specific advice as to your circumstances.

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

To appoint me as your IP visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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iva.com

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Post by iva.com » Thu Sep 06, 2007 10:50 am
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Hi Helly,

If you are looking for an IVA firm to speak to you might find our web site useful. We maintain a list of IVA firms and IPs. We also publish reviews of their services that have been submitted by their clients. We recommend talking to several firms before choosing which one to appoint.

Good luck with finding the right solution and please let us know how you get on.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp
IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp
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