Iva

Tiggerpoo11

Hi there basically my ex left me in a world of debt years ago when he defaulted on the mortgage that he had lied about my name not being in there anymore he faked the solicitors letters when he had been turned down I thought everything had gone through only to find several years later this wasn't the case anyhow I'm now in an iva paying what I can back but my current partner wants to move in together in his place and wants to open a joint bank account to at in the bills but haven't told him about my money problems as I feel ashamed if it all how do I get round this

National_Debtline

Hi there and welcome to MSE,


There are a few things to consider in a situation like this. First of all, if you were to successfully get a joint account you would create a financial association between you and your partner. This means your credit files can influence each other and his may be negatively impacted by your IVA. The other issue is that by applying for a joint current account, you would likely both be credit checked and your IVA would show. This doesn't mean your application would definitely be rejected but an IVA does affect your ability to get credit.


And lastly, other issue would be if you wanted to rent together (through a private landlord, for example) then you and your partner would again likely be credit checked, and whilst they can only see public information, your IVA would again come up. And this would be a similar issue if you were thinking of getting a mortgage.


Laura
@natdebtline

Tiggerpoo11

He already rents the house through his mum who owns the house so this wouldn't have an impact would it ? I understand about the banks just wanted to avoid having to say anything but looks like I'm going to have to

National_Debtline

Hello again,


Your partners mother's property shouldn't be impacted in a situation like this. You will need to inform your IP that you are moving and the IVA may need to be reviewed. Some IVA companies follow the IVA Protocol that will allow a variation of up to 15% without the matter being referred back to the creditors, but please be aware not all companies follow this.


If moving in with your partner could cause problems with you paying your IVA you may want to speak to one of the free debt charities for more advice.


Laura
@natdebtline