If you apply for an IVA, does your IP ask you to declare all accounts that have anything to do with you or do they find out from your credit file?
Are children's savings accounts and DH's bank and cards safe (I'm an additional cardholder but only ever use for weekly shop) or would I be expected to offset debts using funds in these?
Childrens accounts should be fine - your other half should be fine as long as it is not a credit card.
I would suggest you open your own account as your other half may have his credit rating trashed by association with you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As Kallis says, the kids money should be safe, as long as the accoiunts are in their names (you are OK as the trustee / signatory). The other half shouldn't be sucked in, unless you use Payplan, as they operate differently from most and use household income.
You should, as Kallis said, set up your own account and make sure that you and the other half do not share any joint accounts, otherwise a credit search on him could throw up your IVA by association.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Foggy wrote:The other half shouldn't be sucked in, unless you use Payplan, as they operate differently from most and use household income.
I hope they only use mine! Spoken to Stepchange and looked through here and seen posts advising to talk to PJG, MCD and VB - are they all equally good? I found some posts that said VB sponsor the forum. I'm not sure if that means they are good or if it means you can't say anything bad on here.
Foggy wrote:You should, as Kallis said, set up your own account and make sure that you and the other half do not share any joint accounts, otherwise a credit search on him could throw up your IVA by association.
Does this mean I need to be removed as an additional cardholder before a MOC?
It is best to have separate finances if possible so his credit record is not impacted.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Yes, VB sponsor the forum --- it doesn't mean you can't say anything bad about them --- if they mess up they will get flack just like anyone else ! And anyone can mess up -- it's how they handle that which counts.
Of those you mention, PJG might not be taking on new individual clients --- they did sell a major portion of their caseload a while back to concentrate on other avenues, but worth an enquiry. McCD are well regarded as are VB (as it happens). To be honest Stepchange get very little bad press also. They sometimes pass on cases to other firms and you will never get contact with the IP direct, but, otherwise seem OK.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
