www.iva.co.uk

i have my own debt,but i also have joint debt such has two loans with my partner how would this be settled.

Hi trueblue and welcome to the forum

Both you and your partner are jointly and severally liable for the joint debts, which means that you are both responsible to pay the lot. If you enter into insolvency proceedings, then the joint creditors will continue to pursue your partner for repayment of these creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi trueblue
If you were to go for an iva then they would be included if they are unsecured. The credtors would then seek payment from your partner though as the loans are joint. My husband and I had joint loans but did an iva together, they are as such seperate but are joined as one income and expenditure and one proposal and one monthly payment, which covers both our debts.
I am like you in debt so wait for other answers.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

Welcome trueblue,

If you are entering into an IVA and your partner is not then your partner will be persued for the whole amount owing. Your part would be covered because it is included in the IVA.

Can your partner continue to pay the minimum payment in these two loans? If so a provision can be placed in the monthly expenditure.

Best Regards. IVA Experts

Hi trueblue,

If you have a joint debt with your partner then this will have to be included in an IVA. Your partner will always be responsible and pursued for payment of this debt.

Regards,
Michelle P.