clearing debt while using IVA

operabird

Hi,
my partner has just told me that he has set up an IVA with CCCs & while ths has given him some peace of mind he has never tried to obtain settlement figures to clear any of his debts which total £30000!:eek:
Some of these debts have been sold on to debt companies but thankfully CCCs have been kept informed
I was considering lending him £3500 but don't know whether this would make any dent in his debt or who to discuss his with:o
Any advice would be greatly appreciated. Thanks

MrsTinks

Please don't lend him any money - firstly should things go sour then you would have no rights as a lender unlike the rest of his creditors. Also 10% of his debt won't go far - settlement figures are usually somewhere inbetween 50-80% but as there is an IVA in place this is a legal binding contract - that means that he can't just pay one off with the money you give him - that would be giving preferential treatment to one creditor. Right now he's dealing with his debt and knows exactly how long it will take and what it will cost him. CCCS are very good and will look after him so please just be a good girlfriend to him and support him morally There is now an end in sight for him and even if you could pay it all for him then bailing him out isn't the solution

operabird

Thanks, i thought he could pick one but I can see now how that could affect his relationship with the CCCs & I don't want him to fall back into his old ways!!