Arrogant BIL not paying IVA

Candy0107

Hi I need a bit of advice re not paying IVA's.

The partner of a family member (aged 23) has got debts of around £30k. He has a good job (going for promotion at work, potential salary £35K), and is choosing not to pay off IVA, am I right in thinking that because the he is choosing not to pay his debts that he could be forced to go bankrupt, and most of his possessions taken from him - see list below?

He has wasted his money buying cars (he has 3), TV's, sofa's, electronic games (wii) and yesterday he bought a £130 Scalextric (not too sure of the spelling) for himself.

He seems quite arrogant about the debt, advising me and my husband to not bother paying our debts - that will not happen :mad:, we want rid of our debts.

Sorry if this is in the wrong place, please feel free to move it, and thanks for any advice offered.

inmypocketnottheirs

Let him learn the hard way! Not constructive I know, but at 23 I don't think he sounds likely to listen to the voice of reason.

debt_doctor

Hi,

If the insolvency practioner holds sufficient funds then he will be declared bankrupt.If they do not hold sufficient funds then he will be back in the same position as before the IVA.

This will leave him open to county court action, possible visit by bailiffs, and if they get in will result in theloss of the beloved scalextric, nintendo - oh and 3 cars !

I hope he comes to some sense,why not print off all the comments you get on this thread - it might help

Best

DD

tigerfeet2006

If he does go BR tell him that after essential living expenses ie mortgage/rent, electricity, CT etc he will have to pay 50-70% of the surplus of that £35,000 he is so proud of earning. Also the only car he will be allowed is 1 to get him to work and that will be worth no more than £2000, wonder how he will like that.

Zebedee69

Yes and when he is declined a VISA debit card to use in the shops wonder how he will like that.

Hes going to be in for a shock.........

missile

AFAIK it is not possible for a spouse to "distance" themselves from the debtor. They are jointly targeted and will suffer the same consequences, be taken to court, served with arrestment orders on wages, loose their possesions etc.

fermi

missile wrote: »

AFAIK it is not possible for a spouse to "distance" themselves from the debtor. They are jointly targeted and will suffer the same consequences, be taken to court, served with arrestment orders on wages, loose their possesions etc.

Only regarding joint financial commitments nowadays fortunately.

The wages/posesions of a spouse/partner cannot be touched by the courts unless there is a joint account/loan/agreement etc.

If it is left long enough so that bailiffs become involved then ownership of luxury household items/property can be a problem to prove in certain cases. But even then the law does protect you up to a point.

Candy0107

Hi everyone,

Thanks for the responses. I know that I should advise him to sort everything out, but I think that I am going to let him stew in his own mess!!!! (insert evil laugh here).

I will let you know how he gets on.