Joint debts???

stressedout · Joined: 08 Nov 2007 Posts: 1

I am needing some advice on joint debt that my husband and I have. We have split up and he refusses to pay his half of any of the debts, or any the huge mortgage that we have, I have put the house on the market to try and get that large outgoing out of the way, but the market seems to be really slow, I dont know how much longer I can keep my head above the water for.

The mortgage is £1100.00 per month
and the joint debts total about £ 30k
I also have my own of approx £18k

Can I still get an IVA on joint debts or will he have to do this as well? I know I cannot include the mortgage. But I doubt very much he will go for it if he has to pay anything.

Any advise would be greatly appreciated

Adam · ClearDebt Advisor Joined: 30 Jan 2008 Posts: 4

With regards to applying for an IVA with joint debts....

An IVA would remove you from any liability of the joint debts if it was approved. Your ex-partner cannot stop you from applying for an IVA.

Your ex-partner would however still be liable for the remaining amount. (For example if your IVA was approved with a 40p return for the creditors then your ex-partner would still be chased by them for the remaining 60p or if you both owed £10,000 you would pay back £4,000 and he would still owe £6,000, but you would no longer be chased by the creditors)

I Hope this information helps, if you need more advice contact us on 0800 0192 095.

Regards

Adam