IVA rules question

PaulNov63

Hi all
My Ex wife has agreed an IVA repayment of a joint account overdraft of 11 years ago after Lloyds Bank closed our account due to a lost business. She is still paying it but now Cabot are now chasing me. Can they, if my ex has agreed to pay it through the IVA? I cannot find the answer anywhere.
Thanks in advance.

Grumpelstiltskin

Hang on if the IVA as started 11 years ago and the debt was included she can't still be paying it now.

I think you need to find out exactly what the situation is.

PaulNov63

Hi
She started the IVA 3 years ago after being on a debt management plan. I don't know why the IVA was started as I have very limited contact with my ex. Separated over 6 years ago.
Cabot in their last letter to me stated the IVA was 3 years old.

Grumpelstiltskin

OK That explains the IVA timeline.

With a joint account both partners are liable to pay the whole amount, there is no splitting down the middle.

If it is Cabot chasing you I personally would ignore them until they send a Letter before Action, not just a threatening letter.

They are hoping you will pay up.

PaulNov63

Hi Grumpelstiltskin
Thanks for the advice. The 'Letter before action' would be a notification of pending legal action? Also, do they have to do this by law as I really can do without a sudden CCJ landing on the mat.

Grumpelstiltskin

PaulNov63 said:

Hi Grumpelstiltskin
Thanks for the advice. The 'Letter before action' would be a notification of pending legal action? Also, do they have to do this by law as I really can do without a sudden CCJ landing on the mat.

Yes they do have to send a Letter Before Action they can't just slap a CCJ on you without notice, Cabot must have your correct address as they have been writing to you so there shouldn't be any problem with them writing to the wrong address.

PaulNov63

Hi Grumpelstiltskin

Thanks again.