IVA Advice Please??? After separation

Ellie1977

Hiya - I've recently separated from my husband and we are sorting things out together with no solicitor. We have an IVA and I'm looking for advice on what to do.

-Should we tell the IVA provider even if we still want to make the payments together?

-Can we split the IVA and make our own separate payments (I would rather do this in case my relationship with my husband takes a turn for the worst.

-If we have received a bonus in the past and have not declared it (even though they have seen it on my payslips and took no action) could they ask for money back at the end of the IVA?

Any help would be much appreciated.

Anondebtadvisor

If you have an interlocking IVA they be seperated but another creditors meeting will need to be held, if you can come to an arrangement it may be preferable to agree payments between you. How long have you got left on the IVA?

Ellie1977

Thanks for your reply - we have 3 and a half years left but we pay a fortune towards it. We also have a secured loan. So there is not a lot left!

I am terrified in case my husband gives his job up and can not pay...would I be then made bankrupt?

milliemonster

No you wouldn't, they could then split the IVA, his would fail and you would carry on paying your part based on your own I&E.

The bonus is an issue though, they should really have dealt with it but even though they haven't, if it has been on your payslips they will have copies and do a full review of everything at the end of the IVA and probably ask you for it then, if not before, they won't complete the IVA until any outstanding monies have been paid over.