Help - seperated and worried about joint debt.

worriedsinglemom

Just thought I'd update with the situation.

My ex has still not made any payments towards our joint debt and after checking he's not paid for almost a year so my credit rating is rubbish now anyway.

Also I've told my partner about my debts and he's been great. He gave me details of Debt Advice Foundation, a free charity debt organisation and they've suggested an IVA so hopefully I should be debt free in 5 years if it all goes through ok.

RAS

Hi

Please get proper advice from one of the debt charities recommended by Martin, before you do an IVA. Given your situation, I doubt if an IVA is appropriate as you have no equity to protect and a limited income. it will however push the responsibility for your jopint debts onto your ex, as would full bankruptcy.

Speak to one of these people http://www.moneysavingexpert.com/loans/debt-help-plan#help


Basically you are experiencing continuing economic abuse from your ex partner. Please read this thread and download the guide http://forums.moneysavingexpert.com/showthread.html?t=1276963

The folk on the marriage forum can support you better.

DarkConvict

I agree, IVA doesnt sound right and it costs you. I would get advice from CCCS/National debtline instead.

worriedsinglemom

I just liked the idea of IVA as the joint loan is worrying me. We borrowed £14000 2 years ago and the balance is still £15500. I'm paying £50 per month, he's not paid anything since last June so this is never going to be cleared.

I have my other debts under control. I've got an appointment with Citizens Advice on Tuesday morning.

LovelyLeeds

worriedsinglemom wrote: »

Just thought I'd update with the situation.

I find it extraordinary that your solicitor will not deal with the financial aspect during your divorce. I have a feeling that once your divorce is finalised, they will not wish to get involved with the financial side on your behalf, else they would be doing it now as a matter of course.
Are you on legal aid? I suspect you do not have the means to pay solicitor fees yourself, maybe the legal aid only covers divorce and not the finance?
Regarding the CSA, do not 'fear' your husband's bullying remarks to you, register your case, you will be surprised at how swiftly he will co-operate.

RAS

worriedsinglemom wrote: »

I just liked the idea of IVA as the joint loan is worrying me. We borrowed £14000 2 years ago and the balance is still £15500. I'm paying £50 per month, he's not paid anything since last June so this is never going to be cleared.

I have my other debts under control. I've got an appointment with Citizens Advice on Tuesday morning.

If you do an IVA, then full responsibility for the joint loan passes to you ex. You will not be paying anything towards it. It cannot be included in an IVA.

RAS

Think it might be useful to link to your other thread http://forums.moneysavingexpert.com/forumdisplay.html?s=&daysprune=&f=159

worriedsinglemom

RAS wrote: »

If you do an IVA, then full responsibility for the joint loan passes to you ex. You will not be paying anything towards it. It cannot be included in an IVA.

I've taken advice from Debt Advice Foundation and they say the joint loan can be included in an IVA just in my name. I'm getting confused now.

Think I'm going to get a 2nd opinion from National Debtline or CCCS. Will call them when children are in bed. Open til 9pm

RAS

Check out Charco's comments on this thread

http://forums.moneysavingexpert.com/showthread.html?t=2204735

Charco works in the IVA industry as an advisor.

Do you think you can persuade your ex to do a joint IVA?

worriedsinglemom

RAS wrote: »

Check out Charco's comments on this thread

http://forums.moneysavingexpert.com/showthread.html?t=2204735

Charco works in the IVA industry as an advisor.

Do you think you can persuade your ex to do a joint IVA?

I dont really want to do a joint IVA because he hasnt kept up payments on anything so I know he'd be the same.