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struggler
Posts: 68 Forumite
My wife has had a default placed on her file regarding our joint account which is subject to my F&F IVA. They have issued no notice to either of us. Question is have they an obligation to do this ? and can they chase her half of the debt after the IVA is completed in December even though all of it is included in the IVA ?
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Your wife would be liable for the whole remaining balance on completion of the IVA, not half of it. In the meantime they are free to chase her for payment of he whole balance as she is jointly liable and if they can't get the whole balance from you they'll just go after her. This should've been explained to you when you signed up for the IVA.Total 'Failed Business' Debt £29,043
Que sera, sera.
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They can place defaults but they need to send it in the post for it to be correctly placed, and done within 6 months of the default happening.
As above, like bankruptcy, the other holder(s) will be liable for the full amount. All account holders are liable for the full amount, so if one account holder disappears/goes IVA/bankrupt/Deceased, the other account holder(s) are still liable for the amount in full.
Only accounts soley in your name would be closed and debt written off, this is why many couples go BR together.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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