at the end of my tether now,we have joint iva with two years to run,and i myself is going to go bankcrupt,my husband has decided not to,we are about to get a divorce,i have my reasons for doing this,i have worked out what each of us owed and my husbands total was 36.274 in which he was to pay back 18p in the pound,once mine has failed due to bankruptcy,could he make an offer to pay his off,are does it not work like that.what would they expect him to offer any one know anything about this please
Your husband needs to speak to the IP about this, as he could make a full and final offer, or he could just continue to pay it until the end.
You are usually expected to pay back as close to the original dividend as possible.
If I remember rightly you have a house don't you? I know that if the house is repossessed then the shortfall will be included in your bankruptcy. However, I think your husband will then come liable for it as you are jointly and severally liable for the debt, so I imagine your husband will be chased for this.
One of the experts will be along to advise further.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
