Iva

francm

Presently two years into a joint iva however my wife decided to leave so now I find myself in a postion of having to pay the iva payments with the payments being doubled on january 1st 2008 for the remaing 2 and half years.
I have sold our house and living in rented accomadation. My ex wife is unable to contribute to the IVA as she is now classed as single parent on low income.
I would like to no if I have any options and should I consider bankruptcy. I have complied with all the requirements set out by the debt management company even to the point of changing my employemrnt to try and increase my income. I just don't no which way to turn and would like some advice
Thankyou.

Storm

I don't know much about IVAs, but I would have thought that going from a joint one to only one person would affect the amount you're expected to pay each month. Also, if the debts are in joint names, then your wife will still be liable, even if she's not earning.

I would contact the company administering your IVA for more advice, in terms of bankrupcy - there's a sub-board with loads of knowledgeable people on it that will be able to answer questions about the process far better than I!

GirlRacer_2

This happened to me. I contacted the Insolvency Practitioner and explained the situation, they managed to separate out agreement so I was only responsible for my half of the debts. I was lucky enought to get some help from family and pay off my half and keep the house. My ex however, failed to pay his half, he was forced to sell a property he owned solely and was made bankrupt.

Contact your IP, you'll probably find them to be extremely helpful.

Good luck x