finances left?

[rickyg33]

I'm considering applying for an IVA but am unsure how much I might be left with to look after my wife, child and home after payments are calculated. Is there a method to work this out?

Also, do a couple apply jointly if the debts are only in my name?

Many thanks - I'm a new member here so help is much appreciated.

Rickyg

[Jo Rolland]

If the debts are just in your name, it will be only yourself that will need to enter an IVA.

When calculating a contribution for an IVA everything is taken into consideration including the likes of emergencies, kids clubs, house maintenance etc etc. It is not worth an IP putting together an IVA proposal and to scrimp on your expenditure as your creditors may feel that the expenditure is too low for you to sustain your contribution.



Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk

[rickyg33]

Thanks for the rapid help.........it does make a difference knowing there's a way out after trying to pretend everything's OK.

[aguise]

Hi Ricky and welcome.
When doing your I and E just make sure you include everything you need to live. Dont forget little things like prescriptions and dentist. If your IP feels anything is too high or low they will advise you.
All the best

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/