together their debts amount to ?25,000 which is above the required threshold.

Also, neither would be able to afford the necessary minimum repayment into an IVA on their own, but by working as a team, pooling both the debts and the disposable income, a joint IVA becomes a distinct possibility.

A joint IVA does not require the two people involved to be married.

It can be any two people who share the same living cost

Joint IVAs as they are referred to, allow two people to unite their resources and pool their debts, enabling them to qualify for an IVA when it might otherwise be beyond their reach.

In reality the insolvency practitioner who acts as a nominee for the two people concerned, will actually propose two individual IVAs. However, once the IVAs are accepted by the creditors, the insolvency practitioner supervises the two cases as one, which in turn creates a substantial saving on fees charged to the creditors. These saving are passed on to the creditors, which in turn means the creditors will receive a greater amount of money from the IVA fund.

Joint IVAs provide an alternative solution to bankruptcy, especially in cases where two 'stand alone' IVAs may not be possible.

For an IVA to be acceptable to creditors the debtor's circumstances must meet certain prearranged conditions.

• The debtor must have at least ?15,000 unsecured debt.
• The debt must be owed to at least 4 different creditors.
• The debtor must be in employment.
• The debtor must have a disposable income sufficiently high to be able to repay at least 25% of the debt, plus costs.

Here is an example of a set of circumstances where a Joint IVA might suit:

Imagine a couple living together. Each has a personal unsecured debt of ?12,500 owed to 4 creditors. Let's also imagine the monthly repayments of these debts adds up to ?300 each person, or ?600 between them. One works full time, the other part time. Together they generate enough income to cover their joint expenditure, but after all their costs are deducted from their joint incomes, they are left with just ?350. Insufficient to maintain their required debt repayments.

Individually they would not have sufficient debt to qualify for an IVA, but together their debts amount to ?25,000 which is above the required threshold.

Also, neither would be able to afford the necessary minimum repayment into an IVA on their own, but by working as a team, pooling both the debts and the disposable income, a joint IVA becomes a distinct possibility.

A joint IVA does not require the two people involved to be married.

It can be any two people who share the same living costs

bstantial saving on fees charged to the creditors. These saving are passed on to the creditors, which in turn means the creditors will receive a greater amount of money from the IVA fund.

Joint IVAs provide an alternative solution to bankruptcy, especially in cases where two 'stand alone' IVAs may not be possible.

For an IVA to be acceptable to creditors the debtor's circumstances must meet certain prearranged conditions.

• The debtor must have at least ?15,000 unsecured debt.
• The debt must be owed to at least 4 different creditors.
• The debtor must be in employment.
• The debtor must have a disposable income sufficiently high to be able to repay at least 25% of the debt, plus costs.

Here is an example of a set of circumstances where a Joint IVA might suit:

Imagine a couple living together. Each has a personal unsecured debt of ?12,500 owed to 4 creditors. Let's also imagine the monthly repayments of these debts adds up to ?300 each person, or ?600 between them. One works full time, the other part time. Together they generate enough income to cover their joint expenditure, but after all their costs are deducted from their joint incomes, they are left with just ?350. Insufficient to maintain their required debt repayments.

Individually they would not have sufficient debt to qualify for an IVA, but together their debts amount to ?25,000 which is above the required threshold.

Also, neither would be able to afford the necessary minimum repayment into an IVA on their own, but by working as a team, pooling both the debts and the disposable income, a joint IVA becomes a distinct possibility.

A joint IVA does not require the two people involved to be married.

It can be any two people who share the same living cost

have at least ?15,000 unsecured debt.

The debt must be owed to at least 4 different creditors.

The debtor must be in employment.

The debtor must have a disposable income sufficiently high to be able to repay at least 25% of the debt, plus costs.

Here is an example of a set of circumstances where a Joint IVA might suit:

Imagine a couple living together. Each has a personal unsecured debt of ?12,500 owed to 4 creditors. Let's also imagine the monthly repayments of these debts adds up to ?300 each person, or ?600 between them. One works full time, the other part time. Together they generate enough income to cover their joint expenditure, but after all their costs are deducted from their joint incomes, they are left with just ?350. Insufficient to maintain their required debt repayments.

Individually they would not have sufficient debt to qualify for an IVA, but together their debts amount to ?25,000 which is above the required threshold.

Also, neither would be able to afford the necessary minimum repayment into an IVA on their own, but by working as a team, pooling both the debts and the disposable income, a joint IVA becomes a distinct possibility.

A joint IVA does not require the two people involved to be married.

It can be any two people who share the same living cost

creditors. Let's also imagine the monthly repayments of these debts adds up to ?300 each person, or ?600 between them. One works full time, the other part time. Together they generate enough income to cover their joint expenditure, but after all their costs are deducted from their joint incomes, they are left with just ?350. Insufficient to maintain their required debt repayments.

Individually they would not have sufficient debt to qualify for an IVA, but together their debts amount to ?25,000 which is above the required threshold.

Also, neither would be able to afford the necessary minimum repayment into an IVA on their own, but by working as a team, pooling both the debts and the disposable income, a joint IVA becomes a distinct possibility.

A joint IVA does not require the two people involved to be married.

It can be any two people who share the same living cost

together their debts amount to ?25,000 which is above the required threshold.

Also, neither would be able to afford the necessary minimum repayment into an IVA on their own, but by working as a team, pooling both the debts and the disposable income, a joint IVA becomes a distinct possibility.

A joint IVA does not require the two people involved to be married.

It can be any two people who share the same living costs.

Getting into debt as a couple is easy, but it's nice to know there is a debt solution that offers you a way out together.