question category: IVA

My son and his girlfriend are in a joint IVA, but she has now left him what happens to IVA?
Submitted on: 13th Mar 2010 by Non-Member | Total Answers: 1

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Re: My son and his girlfriend are in a joint IVA, but she ...

You should tell your son to speak to his Insolvency Practitioner as they are looking after his IVA. If the split is amicable then they could continue to make payments together until the IVA is completed. Or if the split is not amicable then he needs to inform the IVA company that his circumstances have changed and they would then do a new financial statment now based on just his incomings and outgoings.

If he could then afford a monthly contribution on his own, then the IVA company could possibly call another meeting of creditors and they could vote again on whether to separate the IVA.

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: 13th Mar 2010 by Rachael Expert

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