my husband and I are in a joint IVA but if we seperate and have our finances seperate too can we seperate the joint IVA and if so would we have to start all over againeven if as a result of our going our seperate ways we have to reduce our payments due to inreased expenses for two homes or would we just be required to complete the remaining IVA term individually ?
You need to speak to your IP because the IVAs will need severed and then new income and expenditure accounts drawn up. This is relatively easy and means the IVAs can continue on although you will probably need creditor consent.
You should only really need to separate the IVAs if there is a clear operational reason for doing so - if you can both afford to pay something towards the IVA, then it may be better to keep them going as interlocked cases even with a lower payment which may have to be expressly agreed by your creditors.
Sorry to hear your relationship is in trouble - hopefully you can work things out? There are lots of couples who separate and go on to successfully complete their ivas - good luck x
