Joint IVA - Now Husband has left me

j-bean60

Thank you (again). I will certainly discuss this when they phone me.
I'll come back next week.

j-bean60

I’ve now managed to speak to a customer advisor about my situation. Basically, she said there are a few options available. Firstly, the IVA could continue, if we could come to an amicable solution and re-adjust the contributions so he paid part and I paid part. This is not an option as at the minute he won’t even speak to me.
Secondly, once we have missed 3 payments we will get a notice of breach and they would revert back to our creditors. The options then would either be new, completely separate IVAs, a DMP (not sure if that was what she said as I’m not 100% sure what this is), or bankruptcy (I really do not want to go down this route).
I mentioned the full and final issue and she put me on hold while she discussed this with another department. I had explained that I was left with next to nothing at the end of the month to enable me to continue with my payments, but as far as I am aware, he has hardly any commitments. She said we would both have to complete separate I&E accounts, but I’m not sure he will cooperate.
She said it was highly unlikely that they would agree to the full and final due to the fact that we had a “joint IVA” and although I can’t continue to pay it, they could not “settle” mine, while still chasing him for payments, especially if he doesn’t cooperate with the I&E.
The outcome is that they are going to put together a submission on my behalf suggesting the full and final. I need to put together an I&E which I will do later (I thought I would base it on last year’s review figures and reduce where necessary as he is no longer in the equation).

Charco_2

Well, it's a start!

If it's rejected then it's not the end of the world, it's not even the end of the IVA! If the creditors reject it then you can still attempt to find another way to finish it! I would speak to the ex and explain to him that the IVAs failing doesn't just affect you, it will affect him too - i know he wont speak to you, but he HAS to... it's the difference between being debt free and being in debt up to all four of your eyeballs again!

Try to avoid simply letting it fail.

(A DMP is a Debt Managment Plan - basically you'd have to pay in the same sort of money you're paying in in an IVA but there is no debt forgiveness on the part of your creditors. You pay back the full amount that you owe, your creditors can still hassle you because it's an INFORMAL arrangment and you just cross your fingers and hope that the creditors will freeze interest and charges otherwise you may as welll be throwing a cup of water in the sea)

j-bean60

Let's hope they go with it. I'm going to leave it a couple of days and then try and contact him - perhaps with time he will see sense and speak (or at least listen) to me. I'll come back again if I need any more advice but in the meantime, thanks for all your advice so far Charco.

j-bean60

I’ve now put together the following I&E. The income from board & lodgings is from my niece, who lives with me. I have taken last year’s IVA review figures and adjusted accordingly, now that I only have my income (last year’s figures are in brackets). My ex’s income was approx £1037 per month.

Income
Wages .......... £1144.00
Board & Lodgings .......... £130.00
Child Benefit .......... £80.00
Child Tax Credits ........... £200.00
TOTAL INCOME .......... £1554.00
(Child Tax credits prior to recent split were £40.00 per month but I have contacted them and they have told me my new award will be approx £200/month)

Expenditure
Rent .......... £320.00 (£305.00)
Council Tax .......... £100.00 (£95.00)
Contents Insurance .......... £12.00 (£12.00)
Water Rates .......... £50.00 (£47.00)
Gas & Electricity .......... £100.00 (£110.00)
Telephone ............. £33.00 (£33.00)
Mobile Telephone ............ £40.00 (£50.00)
Car Insurance .......... £25.00 (£50.00)
Car Tax .......... £20.00 (£35.00)
Fuel .......... £100.00 (£220.00)
Vehicle Maintenance .......... £40.00 (£70.00)
Motoring Membership .......... £10.00 (£10.00)
Food & Houshold Goods .......... £300.00 (£490.00)
School Meals .......... £60.00 (£60.00)
Personal Hygiene .......... £60.00 (£60.00)
Clothing .......... £100.00 (£100.00)
TV Licence .......... £12.00 (£12.00)
Sky TV .......... £30.00 (£30.00)
Childrens Activities .......... £35.00 (£35.00)
Internet .......... £15.00 (£15.00)
Contingency .......... £50.00 (£50.00)
TOTAL EXPENDITURE .......... £1512.00

Before I submit this to my IP, does it look reasonable to you?

Thanks

debtinator_2

Maybe I'm missing the point here, and without reading all of the posts perhaps I am leaving myself open for criticism but........

Can somebody explain what a JOINT IVA is?

Surely its two separate IVA's and somewhere in each IVA proposal it will list how much each debtor is paying as a contribution into their Individual arrangement, if the other party fails to pay their contribution their Individual arrangement will fail?!?!?

j-bean60

As Charco says in Post 5

" There is technically no such thing as a Joint IVA - you each have you own IVA but they are currently "Interlocking and Mutually Reliant" (basically they depend on eachother). So separating them isn't a huge problem! "

You would need to read all posts to get the full picture.

Charco_2

There's not a lot wrong with that, it's a decent I&E to be fair - but if it meets the wrong person in the creditors meeting it woulc be easilt nit-picked at!

clothing is high so would knock £40 off it.
contingency is high knock £30 off
put £70 on to your food
You have Sky of £30, should only be £21 (£9)
Telephone and mobile is high, currentl £77 but £60 would be more like it (£17)
And you've a surplus of £42
You've no hairdressing £10 for you and £5 per child
You've no pocket money for kids £15
You've no laundry £10
You've no Newspapers £5
You've no Charitly £2
You've no sports/hobbies/entertainment £16

I think that gives you a surplus of £0

As for your IP saying it is unlikely that your creditors would agree because the IVAs are Joint - it sounds like rubbish to me! No such thing as JOINT, they are "interlocking and mutually reliant" but sure now you and your husband are not! I wouldn't worry about your husband not co-operating by submitting his I&E - you submit yours and ask for it to proposed to the creditors saying you've nothing left and would they consider accepting everything you've paid so far as settlement for your case... (the joint creditors would probably be onside for you anyway because if your husband's fails they can still pursue him for the remainder of the debt)

She who dares wins! So keep on top of this and cross your fingers!

j-bean60

Thank you. I don't know what I would have done if it wasn't for the advice you've given me.
I'll let you know the outcome.

trudij

Havent contributed at all, chiefly becuse I really cant help - but I really hope this works out well for you

xx