Joint overdraft question

purpleparrotuk

Hello

My husband has ben on an iva nearly 2 years now. My wages are taken into account when working out the income and expenditure.

We have a joint account with an overdraft that has not been used since the IVA. It has been kept open so I can pay my share off the overdraft every month.

This overdraft was included in the IVA so a little bit gets paid off by the IVA each month. I am paying off 3 times that amount every month because I understand unless I do this the bank can come after me for the full amount. The account now has a reducing overdraft also.

I am a little confused about what happens when the overdraft is paid off? Does the share of the IVA money go to the other creditors for the remainder of the IVA period? My wages are less than half of my hubbies, technically I think I am paying too much into the overdraft. What would happen of I reduced the payment to half the amount? The debt would taker longer to clear but I can then use the extra money to pay more off my credit card bill per month.

The IVA peeps have allocated my some money per month to pay off my debts. Do you think they would mind if I changed how I distributed it or am I supposed to pay roughly the same amount off to each of my 2 creditors to make it seem fair to them?

Thanks for the help.