Just starting an IVA (hopefully)

[Foggy]

Hi Steve. Go with the DMP for now. It will give you a chance to get your plans together. If you do eventually go for an IVA then, yes, as there are joint loans, it should be interlocking with your wife. However, if she can service the joints loans herself then she needn't join in. She will become soley responsible for the entirelty of the joint loans, even though they will also be included in your IVA.

Also be aware that Payplan do operate a policy whereby they take the HOUSEHOLD income to work out the IVA payments. So, with them, as well as paying the whole of the joint loan repayments your wife will also be expected to contribute to your IVA! Not all firms do this.

[ginger3232]

Steve 1965 - welcome to the forum

Iva does not suit everyone - and in a lot of circumstances a DMP can be the "better option"

Speak to another few companies - for a more rounded opinion - the more information you get about all your options the better

[steve1965]

Thank you, at least I've taken my head out of the sand, its taken long enough to face upto it!!!!!