I`am Thinking of an IVA

ollyf

Hello all, first let me say I hope this is in the correct place im very new to this site.

Me & My Fiancee have joint Debts of around £40K.

We moved into our house in June 2007 so have no equity as of yet. We are wondering if its possible to take out a Joint IVA or if we need to take individual ones out???

Also who do we contact to speak about setting up an IVA?

Many Thanks in Advance for all Help.

Olly F

msflowerfairy

You need to take out an individual IVA hence the name Individual Voluntary Arrangement.
My OH and i both have an IVA, and we went through Payplan.
The whole thing has been very painless, and we now just pay them every month, and budget the rest of our money.

ollyf

thanks will check them out. Another concern is 2 loans are joint ones, how to we list them?? Do we split the loan in half for each person?

onetomany

me and my hubby have are in the middle of a joint one x

insider66

ollyf wrote: »

Hello all, first let me say I hope this is in the correct place im very new to this site.

Me & My Fiancee have joint Debts of around £40K.

We moved into our house in June 2007 so have no equity as of yet. We are wondering if its possible to take out a Joint IVA or if we need to take individual ones out???

Also who do we contact to speak about setting up an IVA?

Many Thanks in Advance for all Help.

Olly F

You can have a joint IVA as long as you are both struggling with debt,
if one of you only owes a relatively small amount then no.

insider66

ollyf wrote: »

thanks will check them out. Another concern is 2 loans are joint ones, how to we list them?? Do we split the loan in half for each person?

you list them as both owing the full amount - you are jointly and severally liable so owe the full amount each