really need some advice

liza83_2

Not sure where to start reading on here.
My partner is in an IVA he has missed one payment sometime last year the payments are way to high for him to afford as it is. but it was the minimum they would do apparently they had to fiddle with our expenses for it to be viable for him to get onto an iva.
Now they have sent him a letter saying they are filing him for bankruptcy, can they do that? i assumed it was up to him to do that.
now i understand what it will mean for him but what does it mean for me? we are not married but will be in 7 weeks time! once we are married are his debts my problem too? will his bankruptcy affect my credit?

peachyprice

Hi Liza,
Are you sure he has only missed one payment, they usually fail an IVA after 3 missed payments.

Please don't worry about his debts becoming yours when you marry, this won't happen.

His bankruptcy won't have any effect on you either as long as you have no joint accounts with him, including a mortgage. If you do have any joint bank accounts you should have your name taken off.

maxmycardagain

if they bankrupt him it saves him the fees, and it depends on your assets as to whether or not you are best to go BR or not

liza83_2

we dont have a mortgage.
as far as i know its one payment.
he doesnt have any assetts other than the car. which i use far more than him (trying to get it put in my name at the moment.)

liza83_2

ok hes just told me they are saying 5 payments have been missed but he doesnt let them take it out off his account he pays them by bacs

DON79

Hi Liza,

the only thing I can say is that if he is being made BR, then he should not transfer his car into your name - this will be seen as an attempt to hide an asset by the Official Receiver if he then says that he does not own a car.

Donna