Hello , I started my iva in 2011 and unfortunately my wife left me a week before Christmas 2013. I remained in the house and as I was trying to pay mortgage on my own, I couldn't afford iva and that failed.im selling the house and would really like to know if iva debts are joint in a marriage,even though I was only one in iva. Debts occurred due to a lot of building work on house. And then I became I'll and couldn't work for about a year.now my wife is going to benefit from house sale and I'll be left with not much. Also the iva company I'm with said as I'm paying back 100% of debt they are adding on a phenomenal amount of interest....is this right?
If you pay back 100% of debt and fees they will add 8% per annum interest. However, this has nothing to do with the IVA company as the IVA failed and is history (or are you starting a new one?)
The debts, if they were in your name are yours alone.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
No I'm now making a full and final offer.... I thought I had enough to pay 100 percent. But then I was told i actually owed another 30k.
I wish I had gone bankrupt 3 yrs ago but that's hindsight for you.
I assume the IVA company are only taking your half of the equity and not your wife's. You may also be entitled to 15% of the equity in the property to restart so hopefully something is left.
Finally, creditors often waive statutory interest if repaid 100p in the £ so ask your IP to put that into the full and final offer.
