what do i do now?

retsbed

Hi MSE'ers,

In March 2006 my partner entered into an IVA with Debt Free Direct (DFD). Included in the IVA was our joint account that we held with Natwest with an OD of £650.

On 1st April '09 I received a letter from Natwest (addressed to me only) demanding £1038.68 for the joint account. I contacted them immediatley and informed them of the above. The person I spoke to asked me to get DFD to call them. I contacted DFD and they asked me to send in the letter and they would deal with it. DFD never contacted Natwest and now the debt has been handed to Triton Credit Services.

Upon receiving the letter from Triton I contacted them (Triton & DFD) immediately and they both tell me that because I am not in the IVA I am responsible for the entire debt of the joint account . Neither of us were aware of this as for the last three years my partner has duly paid the IVA.

Please could someone shed some light on this matter as my income has been included in the IVA and we really don't have the money to pay them especially as we thought it was all taken care of. I have tried explaining this to Triton but they are not budging. The last person I spoke to asked me to fax in my partner's IVA documents to prove the debt was included - I have done and thought I would post on here to get some advice before they call me again.

I hope this doesn't sound too long winded and please accept my apologies if it is

Thank you all in advance :beer:

skibadee

My husbands income was included in my IVA.....but he was given an allowance for his liabilities as 2 debts were joint....however creditors haven't as of yet made any attempt to contact him.
This is the problem with an IVA or Bankruptcy when some debts are joint but only one of you has declared insolvent....unfortunately the other becomes liable for the joint debts, DFD should of made you aware of this.
I would contact Natwest/Triton explain situation and if possible try to reach an agreeable payment plan....request an I&E form to show your financial situation etc.,.
I would also contact DFD as it maybe that they misold you an IVA [ not sure if your situation would be classed as misold, I'm sure someone will be along who can give you more advice soon.

leeds4ever6

they are trying it on, they cant get a penny out of you if its in ya iva, contact dfd and tell them to take action on them or u will take action on dfd, that usually does the trick.

skibadee

leeds4ever6 wrote: »

they are trying it on, they cant get a penny out of you if its in ya iva, contact dfd and tell them to take action on them or u will take action on dfd, that usually does the trick.

I think OP mentioned its NOT her IVA so not sure how she stands...think he'll find as its her partners IVA she is still liable.

leeds4ever6

if the balance is in the iva they cant demand any money from anyone regardless whos it is.

thecableguy12

leeds4ever6 wrote: »

if the balance is in the iva they cant demand any money from anyone regardless whos it is.

sorry that is not true if its a joint debt they can and legally chase the other party(not in the iva) for the full debt, it used to happen all the time when i worked for an IVA compnay and the creditors have the legal right to do so

retsbed

Hi all, thank you for your replies.

I have spoken to DFD and they told me that I am liable for the debt and I should make an offer to Natwest Triton and then inform DFD once it has been accepted. DFD will then in turn make a note of this for when the IVA comes to an end and deduct the amount I have paid toward the debt before settling up with natwest.
DFD also said that I should have been made aware of my liability when my partner entered into the iva however, I can say with my hand on my heart that they never informed us otherwise I would have made suitable arrangements to pay them what we could afford before the debt got out of hand like it has done now.

As per my first post I faxed Triton the IVA documents showing the debt included in the IVA but I have heard nothing from them since the end of June. Now tonight I have received a letter from another agency called Apex Credit Management Ltd chasing me for the debt on behalf of natwest. I just don't know anymore

a2062cad

I can't shed any light on how to help BUT PLEASE don't give up. Keep viewing this site I am sure that someone will help.

Keep cool and YOU will FIND A SOLUTION.

Good luck.

retsbed

a2062cad wrote: »

I can't shed any light on how to help BUT PLEASE don't give up. Keep viewing this site I am sure that someone will help.

Keep cool and YOU will FIND A SOLUTION.

Good luck.

thank you so much for the encouragement. :beer:

I tried last night to speak to the national debt helpline but was holding for 30 minutes and still could not get through, will email them instead for advice to see what they suggest

MIVAA

Hi retsbed,

skibadee's right, you are liable for the debt, but I'd take issue with the DFD response though.

They say you should set up an agreement with Natwest/Triton and inform them of how much you have paid at the end of your partner's IVA, so that they can adjust how much Natwest can claim from the IVA.

In my opinion, and for what it's worth, I would say this is actually unfair to you. The way I see it is you should only be liable for what will be owed after Natwest have received their dividend from the IVA.

Therefore, I would argue with Natwest that they should deduct from the outstanding balance an amount equal to the expected IVA dividend, and then set up a repayment plan to deal with this amount.

Find out from DFD what the expected dividend is in % terms. Deduct that % from the £1038.68 they say you owe, and insist that is all you are liable for - then set out an agreed monthly repayment plan.

e.g. if your partner's IVA has a 30% dividend to his creditors, then you should only be liable for £1038.68 - 30% = £727.07 so make arrangements to pay just the £727.07

Then go back to DFD and insist that they introduce a partner's allowance which is equal to this monthly repayment to Natwest - into your partner's IVA expenditure. This will have the effect of reducing the amount he is paying into his IVA by the same amount, and enable you have the means to keep up the new monthly repayments from now on.

I hope you follow my logic.

MIVAA

retsbed

MIVAA wrote: »

Hi retsbed,

skibadee's right, you are liable for the debt, but I'd take issue with the DFD response though.

They say you should set up an agreement with Natwest/Triton and inform them of how much you have paid at the end of your partner's IVA, so that they can adjust how much Natwest can claim from the IVA.

In my opinion, and for what it's worth, I would say this is actually unfair to you. The way I see it is you should only be liable for what will be owed after Natwest have received their dividend from the IVA.

Therefore, I would argue with Natwest that they should deduct from the outstanding balance an amount equal to the expected IVA dividend, and then set up a repayment plan to deal with this amount.

Find out from DFD what the expected dividend is in % terms. Deduct that % from the £1038.68 they say you owe, and insist that is all you are liable for - then set out an agreed monthly repayment plan.

e.g. if your partner's IVA has a 30% dividend to his creditors, then you should only be liable for £1038.68 - 30% = £727.07 so make arrangements to pay just the £727.07

Then go back to DFD and insist that they introduce a partner's allowance which is equal to this monthly repayment to Natwest - into your partner's IVA expenditure. This will have the effect of reducing the amount he is paying into his IVA by the same amount, and enable you have the means to keep up the new monthly repayments from now on.

I hope you follow my logic.

MIVAA

Hi MIVAA,

Thanks for your response. I followed your logic up to and including the dividend para.... the last para has got me slightly confused...
are you saying that I should ask dfd to reduce my partner's iva payment by £30 a month (assuming I pay back over 2 years until the iva is finished) and then pay natwest £30 a month to clear the debt?

Apologies if I seem a bit stupid