www.iva.co.uk

Posted: **Sun Feb 24, 2008 9:36 am**

My estranged husband has entered an agreed IVA and included a loan that is in joint names - what does this mean for me ?

Posted: **Sun Feb 24, 2008 9:56 am**

Hi Jo ... just wanted to welcome you to the Forum ... one of the experts will be around shortly with a bit of advice [:)]

In the meantime, stay around as you are amongst friends here ... blimmin' ex husbands are like bad pennies aren't they!! They keep popping up (no disrepect to any of the gents on the forum of course ... it's a girl thing!)

Debbie

Posted: **Sun Feb 24, 2008 10:51 am**

Hi Jo

As you and your husband are jointly liable for the loan, once he has entered into his IVA I am afraid that the creditor is likely to pursue you for the full balance outstanding. What are the monthly contractual payments on the loan, and could you afford to pay them?

Posted: **Mon Feb 25, 2008 6:57 pm**

Hi Melanie,

The repayments per month are £270.00 and to be totally honest I cannot afford to pay that each month. Is there anything you can suggest I could possibly do ?

Regards
Jo

Posted: **Mon Feb 25, 2008 7:03 pm**

Hi Jo

I've got a debt with my ex, i'm entering an IVA now with my hubby, started off as a £10,000 loan over 7 years that was in 1997. My ex left in 1998 and disappeared. I've been paying co what could afford which they said was fine until I requested a statement 3 years ago thinking got to be nearly there and guess what now owe £11,500. Loan co have tried to find ex but no luck...

Posted: **Tue Feb 26, 2008 9:58 am**

Hi Jo

You could try and negotiate lower payment with the creditor over an extended period of time, depending upon the dividend your ex-husband is going to be offering in his IVA.

Or you could declare yourself bankrupt and leave the debt behind - but if you have assets such as equity in a property or a car, they may well be affected.

Posted: **Tue Feb 26, 2008 7:07 pm**

Hi Melanie,

I have spoken to the Creditor and agreed a lower payment over a longer term. Phew what a relief to have got something sorted

Thank you for your help on this

Jo

Posted: **Tue Feb 26, 2008 7:39 pm**

Hi
That's good news and a relief for you.They should receive payments from your estranged husbands IP over the five years so this will reduce the overall debt that you will ultimately have to pay.
Regards

Posted: **Tue Feb 26, 2008 9:04 pm**

My plesure - and great to know that the lender is being flexible to suit your circumstances. Hope it will not be too long before this debt is repaid.