www.iva.co.uk

Just a quickie. Can anyone tell me if my overdraft which is a joint debt(£3000)and is going to be included as one of my debts in my IVA proposal. Can my wife be pursued afterwards if it is accepted for all or half the debt or none at all?

Not too long to wait now, I think my draft proposal should be ready this week. Oh to sleep easy again, and not worry about answering the phone.

If there is only you going for the IVA, then your wife will be pursued for the whole of the overdraft debt.

If the bank account is a joint account, then you are both jointly and severally liable to repay the whole lot as Jan has already stated. Do make sure that sufficient alllowance is made within your income and expenditure to allow for your wife's ongoing payments towards this debt - which it would be sensible to agree with the respective bank before your IVA is proposed.

As Melanie has advised you shuould have agreed a repayment of the overdraft before drafting the proposals as this payment will need to have been included as an expense.
Ensure that the whatever has been been put in is sufficient and that the bank are happy with it before you sign your proposals.

Thanx I'll call the bank today and get this bit sorted prior to my proposal being drafted.

Yes whatever is offered in your IVA - your wife would have to pay up any shortfall