www.iva.co.uk

hi all, a friend at work knows someone in an iva who is married but feels she has been wrongly advised. the hubbie was the reason for most of the deby as the wife could pat her half ok. friend was wondering if there was any way wife could get out of iva and leave hubbie in it.mmmmmmm
can anyone help?

Not really - once you are in an IVA you are pretty stuck with it unless you can afford to pay all of your debts in full together with the IP's outstanding costs. Why did this person enter into an IVA if she was paying her debts within terms? I am suprised that creditors would have accepted this.

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

just found out that the hubbie and wife are splitting up. he owes a lot more than her. they are selling the house but there is about £10000 negative equity and they have 1 joint loan. if she can pay off some/most of the debt will she have to stay in iva or can she just go back to paying normal ammounts?

As she is already in an IVA, her IP will need to separate her estate from her husbands, and she will continue to pay until her debts are paid in full or the end of the IVA term whichever is the earlier.

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