question category: IVA

I do not work but my husband is self employed full time can i get a iva in my name only ?
Submitted on: 3rd May 2010 by Non-Member | Total Answers: 1

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Re: I do not work but my husband is self employed full time ...

As an IVA is a legal process all assets and incomes are reviewed along with how the debts were run up, under what circumstances and who has benefitted from them.

It can be possible to have an IVA, just in your name with no income– yes, however your creditors will expect to see “full disclosure” of the household income and outgoings anyway, including those of your husband’s.

Your creditors would also want to have confirmation that your husband is happy to help you repay the debts via an IVA, along with confirmation that he will agree to release any equity if you have a property.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you're considering entering into an IVA, Debt Advice Foundation provides a free, confidential helpline and can advise you on whether you qualify. Click here to find out more.

Submitted on: 4th Jun 2010 by Justine Member

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