We have debts of £94k (I can't believe it either), some in are own names and some in joint names.
As most of my debt is with the TSB around 84% and one of the loans is under a year old, I have been told that I cannot go down the IVA route, I need to look at a DMP, BR is out of the question. But, my husband can go for an IVA, which he is looking into and currently speaking to someone regarding this.
However, I am now worried that I will get all the debt chasing phone calls for the joint loans. Please help, what can I do ??
I am afraid that the advice you have been given is correct about Lloyds TSB current voting policy, but it may be possible to persuade an IP to look at this. I have a representative from the firm who vote for Lloyds with me at my office tomorrow so I will ask the question again if they would look at something on an exceptional basis.
Until you decide what you are going to do, the phone calls and letters regarding the joint debts are likely to continue as you are responsible for these accounts.
Do you have any assets which would be at risk under bankruptcy proceedings, and if not is this a route that you have considered?
