Hi, I have an existing IVA (3 years old) and have recently got married. I was divorced with two children when the IVA started. I cant find any advise about my new husbands liability for my debts and if his income has to be taken into account. Payplan, who adminsiter my IVA, have said we have to do a joint IVA,but this seems ridiculous when my husband has a great credit rating. Please can anyone advise what the correct situation is?
Many thanks!
My understanding is that your partners earnings will be taken into account at review time, to ensure the % you pay into the household expenditure is fair....there is no need for a joint IVA as your husband does not have debts ! My advice would be to speak with your IP direct and not the "office worker" for confirmation of this.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Don't know where Payplan are coming from with that advice!
As lulu says, your husbands earnings will be taken into account, but only to do with living expenses. If your husband has no debts, he cannot do an IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
What a from absolute crazy advice from a firm who are one of the largest in the country. It sounds to me as if you are dealing with someone fairly low down the ranks, but I am concerned to learn that advice of such poor quality is being dished out.
Lulu and Kallis are right - your IP will need to know how much your new husband contributes towards the houseshold expenditure, and this may result in your payments being assessed at a higher level in lieu of that contribution, but apart from that he is completely disaffected by your IVA.
Don't worry and the guy/gal from Payplan does not know what he/she is talking about. Your total income at review time will be taken into account but your new spouses credit rating will not be affected one iota.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Perhaps, instead of bashing PayPlan, we could give them the benefit of the doubt and maybe assume that AKB could have misunderstood what she was told? There are two sides to every story!
I'm with Payplan myself, so I have no reason to 'bash them' as you say. Until I am told otherwise, then I will take what the poster has said as being the advice she was given.
I can only suggest that AKB telephone them again just to make sure.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
All - thanks for your advice, plus other bits I have found on the forum! I have contacted my advisor today with my updated income and expenditure and will see what happens from there. Thanks everyone - really appreciate your help!
Let us know how you get on. It would be intesting to see what Payplan say.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
