Do I have a duty to inform supervisors

[hilary.p]

I have a boyfriend who would like to move in with me - he runs his own business. I have had an iva for two years. I have told my boyfriend all about the debt I owe and the iva. What I would like to know is, what are the implications for him moving in with me. We have separate bank accounts and we would be living in a property that I am renting. Would the supervisors of my account want to assess him and his income? Do I have a duty to inform them?

[MelanieGiles]

Hi hilary and welcome to the forum

Your supervisor will need to be informed of this change in circumstances, and the extent to which your boyfriend will be sharing the joint household expenditure. If you have been funding all of the costs on your own up until now, then his contributions is likely to result in your IVA payments been increased.

The Supervisor may also want to see evidence of his earnings, to ensure that you are both paying a fair share of the household running costs in proportion to your individual salaries.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Oliver]

Yes it is important to inform your IP of this as it may effect your income and expenditure and in turn your DI.

Best Regards
Oliver

Thomas Charles and Co Ltd.
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