joint debts with non-paying ex, can I go IVA alone?

jorussell_2

Hi, I have a separae post/thread going under debt free wannabee and am posting here to get more specialised opinions on IVAs. I'm looking at all my options, IVA being one of them. I have mortgage and unsecured loan in joint names with my ex who walked away in 2007 and pays nothing. I went into DM with Payplan in 2010, without getting agreement from my ex. I couldn't get hold of him and I was making all payments and had to act.
In addition I have a credit card debt (£1500) and an o/d (£600) at the bank - both in just my name.
I understand an IVA is more serious, would I need his agreement on the joint loan (£37k) for an IVA application to be successful?
He is named on paperwork but believes I should be responsible for it all and will never agree to paying anything. (that's another issue, for now I am taking responsibility as somebody has to)
The reason for considering IVA is that my and my ex's credit files are ruined anyway, the DM with Payplan would take 25 years to clear, presumably with a bad credit file for the term and an IVA would put a much better timescale on it.
I would seek to sell the house and rent until credit file would allow me to buy again as it is in joint names and my ex will not even agree to putting mortgage on a fixed rate, it's currently on variable rate which is fine at the moment but would spiral when interest rates go up. Thanks for any feedback you may give.

FoggyBrain_2

hi Jo. Might I suggest you pop over to https://www.iva.com and chosse a couple of IP firms to have a chat with. It is important to get qualified, specific advice from a couple of companies ( Melanie Giles comes highly recommended, among others).

If you go into an IVA, the mortgage can't be included, but the unsecured loans can, even the joint ones. However as the parties to a joint loan are jointly and severally liable, once you are protected under your IVA the creditors will pursue your ex for the full amount.

His refusal to co-operate regarding the house and any equity might be a sticking point, but again I have heard that Mel has encountered similar situations before.

The forum over on https://www.iva.co uk can be very useful too.

jorussell_2

Many thanks FoggyBrain, I'll have a look at iva.com and get back if I have any more queries. Kind regards, Jo