www.iva.co.uk

"I have an old Halifax joint account with my ex-wife which I thought was closed, but it turns out that it isn't and it is overdrawn by approximately £100, which is my fault, I accept that. Would that form part of the IVA, or would it cause added complications with my ex-wife getting involved with the debt? If it is easier to do so, I will pay the balance off, but if it is just as easy to put it into my proposed IVA, then I might as well. My ex-wife and I are not on the best of terms - talking when we have to if you know what I mean!!"

Any advice regarding the above situation?

The amount is pretty immaterial, so you could just pay it off.

Theoretically, it could go into your IVA, but even if it does, it would only release your liability for the debt, not hers. so then Halifax would chase her for payment, unless you want to be spiteful it's probably not worth annoying her for £100.

Philip Beck

Licensed Insolvency Practitioner and IVA specialist

It's a tempting thought Philip, because she isn't being particularly nice to me at the moment, but that's what I thought, so I will just pay it off once I get paid.

But why should one creditor get preferential treatement over the others? I would suggest that the debt is properly included into the IVA, and you can do this by asking the IP to make a debtor's modification on the day. As pbeck says it is fairly immaterial and therefore unlikely to affect the dividend payable.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

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I see what you are saying Melanie, but if they are going to chase my ex-wife for the money, I would rather save myself the embarrasement of her finding out, and possibly spreading it around the town (I want to keep it to myself if at all possible). The only issue I have is that Halifax are already one of my creditors, I assume I will be able to pay money into the account still?

it could be worse.

When i got divorced had £28k of debts most on credit cards that my ex helped me get. What she wanted was 50% of the house equity and i sort the debts out. Asd the visas were in my name my soliciotr told me that i would have to kep a copy of every statment since we were together and highlight what she was responsible for. This would also cost alot and probably still be going on court today so i bit the bullet gave her what she wanted and look i am in an iva today. But at least shes not in my life any more and did not have to go to court

no matter how bad money gets, theirs stll alot more important things in life