Out Of Iva Advice

ambers2000

I have now been IVA free for nearly 2 years. My problem is that it was a business related IVA and i put in all of my personal debt. At the time i was advised that if i put in my personal debt that it would all be written off, however, i am now concerned that whilst they havent yet, my personal debt will move over to my wife (who didnt go through the IVA) but was either a joint name or additional on the account, this could leave us with a large debt problem again!!!! What is the best way for me to handle this situation, is it better for me to just contact the creditors and try and plea bargain - but only with those who appear on my wifes credit file. In the meantime try and clear mine off of my credit file as they have been covered by the IVA so that we can differentiate between the ones who are still chasing my wife and those who arent.

To be honest i am in a right mess as I want to move house next year and my credit file is hampering my chances. It is so frustrating when you know you are not a bad person and people turn you down for credit when you need it most.

Any guidance would be great..............

chevalier

Was it your IVA practitioner that advised you to put in the personal debt? If so then I would contact them for advice, BUT ALSO contact the CAB or similar. You may have been misinformed of the correct way to do things, and if so may have some redress from your IVA practitioner. But this is only a guess.
chev

Herbie21

As a debt counsellor, we receive so many queries from people that have problems with IVA's. Most of them appear to stem from being sold into these schemes without realising that many are not suitable for them .

Firstly they will damage your credit rating in exactly the same way as bankruptcy. Full details of all IVA's to include your name, address, date of birth trustee etc is recorded on the Insolvency service Website for viewing by the public and they are recorded for 6 years with all credit reference agencies.

The problem that you have encounteed is very common as well concerning your wife's liability to joint debts.

My concern here is that you should not really be negotiating with the creditors as these are now subject to the IVA scheme. It would be for your wife to negotiate.

I could be wrong and I am sure there are more people with more knowledge of this site who can advise.

This is another cautionary tale for those considering signing up for an IVA !!

Herbie21

Oops

Sorry I did not read your question correctly,

You are now out of an IVA so of course you can approach the creditors.