DMP, IVA and bankruptcy - implications for partner?

johanne

Hi,

I have tried searching but cant find the answer to this question.. (probably somewhere i know!)

My partner currently has a large amount of debt which he is not/will not be able to meet repayments on from back in 2003 onwards He will be selling his burden of a house soon and moving in with me as my house is much better and considerably cheaper (and we are engaged with a 2 week old daughter so really want to live together as a family!!)

We have discussed his options and we were thinking it will probably be best for him to go down the DMP or IVA route, possibly even bankruptcy. HOWEVER, if he is living with me - what effect will it have on me? For example

Will they take my income into account (i.e. work on household income) if he goes on a DMP? Or would they just work on his wage? As at the moment i get maternity allowence until novemeber and will be getting child benefit for our daughter - would these be taken into account so basically we'd suffer for his old debt from before i met him?

Also what effect would an IVA or bankrupcty have on me? I have only minimal debt in my own name (about £400) and so a reasonable credit rating (but am repaying a debt of mine in my dads name from when we shared a credit card hence the higher figure in my sig) Would they need to know about my debt too?

Sorry im just very confused!

RAS

Hi

I would suggest that you post this on the bankruptcy forum as they have more personal experience, but what you really really to do is to sit down together with CCCS or CAb etc and discuss you options with them.

See here for contact details http://www.moneysavingexpert.com/loans/debt-help-plan#help