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If the husband goes into an IVA as the debt is all his, will the wife have to go into this as well or can it just be the husband as all the debt is the husbands. If this is the case and If the wifes has an isa with a fair amount of money in it would this affect the husbands iva.

Also If they also own a house together will this affect the house in any way as the mortgage is not for the full amount of the house.

Hi Vicky

Not being an expert but can tell you that only the husband will be included unless you got JOINT debts

As for the ISA i'm sure melanie or Andy will be along shortly and answer you

Keith

The long and winding road will straighten out eventually....keep the faith

Hi vicky

If only one party has debts, then this will not affect the other party's assets - neither do they need to enter into an IVA.

As most couples own properties on a joint basis, the insolvent party's share of the equity will need to be valued and taken into account - usually by agreeing to a re-mortgage at the end of the IVA to release sufficient money.

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

If the debts are not yours then only your Husband would propose an IVA. Your assets are legally protected as they would be in Bankruptcy also but your Husband would have to release his share of the equity in your home if he could.

Best Regards
Oliver

Thomas Charles and Co Ltd.
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