www.iva.co.uk

hi can u take a joint iva out when u live at seprate addresses??

I do notsee why not ? But why seperte adresses?

hara

when someone came to me, my partner said what would happen if we split up !! (he must see a future for us lol) and the guy said IVA would just contiune as normal but would have to do another expenses sheet etc

Hi Darren
There is no such thing as a joint IVA,they are all individual but some are proposed side by side using joint income and expenditure to assess the disposible income and one payment is made to service both.They are also supervised by the IP together.So to answer your question you can both take out an IVA living at seperate addresses but the difficulty will be the fact that you will each have your own living costs so I would think that your IP will treat them as seperate proposals and their fees will probably reflect this.
Catullus or Melanie will be able to give you better advice as they are both Insolvency practitioners.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

The answer to that is yes.

As Andy has said there actually is no such thing as a joint IVA, but over a number of years the practice has developed of pooling financial interests and not differentiating expenses between individuals with common financial problems,

For various reasons the regulatory bodies are now drawing IP's attention to the fact that this is actually wrong and future joint IVA's are going to have to separate individual's financial interests far more than ever before, even if couple's live together.

A joint IVA, therefore, where you live at separate addresses but presumably have joint liabilties makes perfect sense and you can tie them together by making one conditional upon the other being approved, although that is a double edged sword sometimes.

Good information given by both Andy and Catullus, in my experience I can only recall one or two cases where the client's lived at separate addresses. The good news is that it can be done, even if they are rare.

Best Regards. IVA Experts