I understand you do become wholly liable for joint debt on the death of a partner, fortunately none of the debts are joint in this instance. given that the life insurance has already paid out despite there not being a will or probate (or even letter of administration) this would strongly suggest tha...

Have done some research. the spuse it seems is not liable for the deceased partner's debts. However the deceased partner's debts must be paid out of the estate in a set order (starting with mortgages). If there are insufficient funds within (or no) estate then the debt is written off. Death in servi...

Without wanting to sound like a cliche, I've got a question regarding a friend... Actually my mother in law. My Father in law died recently, leaving around £27K of personal unsecured debt. He died unexpectantly, intestate but with no substantial assets (no house, no savings). My mother in law is und...

... I know there are some mortgage experts on here and I had a question about portable mortgages. But before I ask my question, just to fill you in on my situation and link it back to the overall purpose of this site, I am currently approx 72K in debt and was until recently seriously considering an ...

Just a quick update for anybody who's interested, my wife and I sat down together to consider our options and indeed our goals and ambitions. We agreed the most important thing was to secure the future for our son (5 months old now!) and debts hanging over us is not benficial to that goal. Having id...

Thanks... So would the reverse also be true, If I were proposing an IVA, earning 1000 pcm of which 600 went toward household expense (leaving 400 disposable)and my partner earned 500 pcm of which 300 went toward household expense then the creditors (whilst able to reject the proposal) couldn't reaso...

thanks Melanie, to clarify then (and please excuse me for my ignorance) If I earned 500 pcm and my partner earned 1000 pcm (total 1500 pcm) and household expenditure was 900 pcm it would be reasonable to expect my share to be 300 against my partner's 600 (i.e. 1/3 to 2/3 in the same ratio as the inc...

I am interested in the replies that the joint I/E is in order to confirm one is paying a fair share... how is the share calculated? Is it means tested i.e the sahre representitive of the individual's income or merely assumed (in respect of a couple) a 50/50 split?

Just to let everyone know I still monitor this site and devour all the posts... I am still planning on living on an IVA-esque budget and clearing where possible as much debt as I can over the next 5 years although it is going to be difficult and I may well need to re-assess my plans. The good news h...

Have spoken to a few IVA companies. I am (it appears) technically insolvent in that I could not repay if asked my debt, (75K a bit higher than my original 67.5K estimate). However, a third of the debt (33%) is a loan and thus is being paid off. 10% is overdrafts and therefore no 'contractual' paymen...

Hi all, Great informative site. Have been reading intently for the last couple of days and its been very very helpful in calculating what is the best course of action for me and my debt woes. the short answer of course is speak to a few companies, take some advice and plan from there - but always re...

thanks for your helpful responses. I will address the issue with my wife but wanted to do so from a position of knowledge rather than a position of panic! I accept equity release is inevitable. From reading through the forum it seems generally is expected in year 4 of a 5 year IVA and if it is joint...

I am in a well paid (and relatively) secure job with a monthly income of around 2500 per month. I have personal unsecured debts of 67500. My wife normally earns approx. 1500 per month and contributes 400 to the household bills with myself picking up the rest. We have a joint mortgage of 175000 on a ...