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 Advice-ex partner had IVA
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Granti80
New Member

4 Posts

Posted - 20 Feb 2017 :  07:26:26  Show Profile  Reply with Quote
Hi
My ex-partner had an IVA which is now complete. A joint unsecured loan was included (how much of I don't know).
My question really is should the amount of the loan included in the IVA be written off at the end or as it's joint do I remain liable for the whole amount. The mortgage statement shows the whole amount without any of the debt written off from the IVA.

IVA Adviser
IVA Expert



742 Posts

Posted - 20 Feb 2017 :  08:57:14  Show Profile  Reply with Quote
Welcome to the forum Granti80.

I'm afraid this isn't going to be the answer that you're hoping for.

The debt is written off as far as your ex-partner is concerned, but you'll remain fully liable for the remaining balance on the account.

I am a professionally qualified debt adviser. To contact me about starting a IVA please:?      
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Granti80
New Member

4 Posts

Posted - 20 Feb 2017 :  09:39:51  Show Profile  Reply with Quote
Hi IVA Advisor,
Thanks. I actually thought that was the case. My main concern is ensuring the amount included in the IVA is actually reflected on the outstanding balance by the loan company and how I go about ascertaining the amount is taken off the balance. Particularly if I do not have access to the completion certificate?
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IVA Adviser
IVA Expert



742 Posts

Posted - 20 Feb 2017 :  10:41:12  Show Profile  Reply with Quote
Hi Granti80.

If it were me I'd call the lender to ask whether they have received a dividend from the IVA and, if not, whether they expect to in due course.

I am a professionally qualified debt adviser. To contact me about starting a IVA please:?      
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Granti80
New Member

4 Posts

Posted - 20 Feb 2017 :  11:28:45  Show Profile  Reply with Quote
quote:
Originally posted by IVA Adviser

Hi Granti80.

If it were me I'd call the lender to ask whether they have received a dividend from the IVA and, if not, whether they expect to in due course.

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Granti80
New Member

4 Posts

Posted - 20 Feb 2017 :  12:20:21  Show Profile  Reply with Quote
Hi

So I have contacted the mortgage company and the say that any dividend recieved has made little difference to the outstanding balance due to arrears and interest. I have raised a complaint, as I can't not understand how they can recieve payment twice via IVA and myself as the other party responsible. I thought that the amount included in the IVA agreement would be written off leaving an amount less that included in the IVA?
Sorry to go in but I don't understand.
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IVA Adviser
IVA Expert



742 Posts

Posted - 20 Feb 2017 :  14:49:18  Show Profile  Reply with Quote
Hi Granti80.

An amount of money wasn't written off in general terms by the IVA.

What was written off was your ex's liability to pay any more towards what was owed.

Whatever hasn't been paid remains owing, with the lender now only being able to chase you for it.

The IVA is likely to have made a payment towards the debt which might have helped to reduce it. It appears the lender is telling you that this IVA payment has been pretty much wiped out by the interest that they've continued to add.

I am a professionally qualified debt adviser. To contact me about starting a IVA please:?      
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