Co-habiting in IVA

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vickir

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Post by vickir » Mon Aug 17, 2009 11:23 am
Sorry another question, i'm 18 months into an IVA - how is the IVA affected if my partner moves in with me?
 
 

Michael Peoples

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Post by Michael Peoples » Mon Aug 17, 2009 12:13 pm
You would need to do a new I&E to show the up to date position. He would almost certainly be contributing towards the running costs of the property so this may mean your payments would increase.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

MelanieGiles

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Post by MelanieGiles » Mon Aug 17, 2009 1:16 pm
You can either allocate your living expenses in a 50/50 ratio, or in line with your individual earnings. So as Michael says this reallocation of costs may well leave you with more surplus disposable income, and therefore able to increase your payments into the IVA. Seek direct advice from your own IP on this point, who has detailed knowledge of your case.
Regards, Melanie Giles, Insolvency Practitioner
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