hi, if your partner is already in an IVA he cannot transfer to another company, he would either need to satisfy the IVA, or default on it.

they can only repossess what was agreed at the meeting of creditors, they cannot take anything that wasnt included in the IVA proposal, so you would need to check the paperwork to see what was included.

if you have an association on your credit file, it may be best to have it dis-associated, you will need to contact the credit reference agencies about this.

if your partner is serious about bankruptcy, he should seek legal advice as to what would be included in it, the cheapest way to go bankrupt now would be to default on the IVA as the IP will have to do this action, this would save you money, but they may apply for a restriction order to extend the term from one year to possibly three years. in some cases (although extreme), a restriction order can last 15 years! so you need to think about this carefully and see what they would take.

if he was going to go bankrupt, he would need to physically prove goods in the house were'nt his, but yours, otherwise they will be taken and the funds used to offset the outstanding debt. this will need to be verified by documentation or credit agreement.

My husband took out an IVA about 4 months ago (just after we married). At the time we were so desperate it got to the point where we couldn't afford the cheapest of food so he contacted an IVA company, they got the ball rolling immeadiately and told him to stop all payments to his creditors and just to give them all a small payment until the IVA was set up. The IVA took 2 months, therefore we hadn't payed full payments to his creditors in this time, We then saw the fees that the IVA company charge and were disgusted but due to not being paying the full amounts to creditors we felt he had no choice but to sign and start the IVA. He owed £27000, they reduced it to £9500, but total payable is £18000 (their fees are £8500) Our repayments are still quite high (the creditors did not except the first offer and we had to increase the payment offer) and we still don't have ANY spare money each month. (although we can afford food and utility bills now).

I went to open a separate bank account today for my own personal Direct Debits and was told I couldn't even have a basic CASH ONLY account due to being associated with someone who is bankrupt (we did not realise that an IVA would label him as bankrupt but were aware his credit rating would be bad) Therefore due to still feeling VERY tight in the financial area and already being labelled as bankrupt we are actually wondering whether or not to actually declare him bankrupt. He has NOTHING of value. but I do (can they take off me as I had this item BEFORE we married). Advice desperately needed. Thanks.

OR ARE THERE OTHER IVA COMPANIES THAT I COULD TRANSFER TOO WITH CHEAPER FEES????? (suggestions very welcome)