www.iva.co.uk

My husband took out an IVA without telling me a year ago for an £18k debt. I was obviously really upset, he said he didn't tell me because he didn't want to upset me, but we could have found a way to pay it with friends' and family's help (18k isn't that much of a debt in the grand scheme of things). He had also kept the extent of his debts secret, do it was a double shock. I have recently got a job, and his payments have now gone up from 190 a month to 500 a month because of my wage. It just feels so hopeless, I'm trapped paying money from my new job into a debt that I didn't know about and an IVA that I wasn't even aware of. Sorry, I just needed to vent. I'm home ill from work and in tears at the thought of 4 more years of this.

Might I ask which firm he has taken the IVA out with ?

Is a lump sum full and final offer an option?

If you are separated and apply for IVA, does it affect your partners credit rating or the home or something else?

If you have or had any joint accounts or finances you could each be mentioned as an associate on each others credit reports, and the IVA of one could reflect on the other person. You can stop this by seperating all finances and telling the credit reference agencies to remove the association.

If the person going into an IVA is on the deeds to the home then he or she will need to release their share of equity towards the end of the IVA or, if unable to do so, the IVA will be extended by a year.

Does your husband also have a job? For both of you to help as well if there is.