help

Pinkylouloubell

Hi, my ex partner entered into an IVA in September 2008 and I entered into a DMP for 3 accounts which are joint debts.

We still have just over a year to go, but one of the accounts i have almost paid off, so at the end of his IVA this particular account will be in credit when his payments are made.
What will happen to that money?

The other account I still owe over £6000 on, but they are not related??

thanks

milliemonster

The money will just be redistributed amongst his other creditors to improve the dividend to them, the other account that you still owe £6k on, is this a joint debt? when his IVA concludes, the balance will fall to you to repay

Pinkylouloubell

thanks,
what i am trying to say is that I will have paid off all of the £600 debt myself, so when his IVA finishes (in just over a years time) they will go to pay his contributions and realise the account is already clear.

debtinfo

yes and the money that would have been paid to that debt will be split amongst his other creditors instead