Get expert opinion. This is the place for new questions to be posted.
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David.22
- Posts: 2
- Joined: Mon Sep 17, 2012 10:32 pm
Hi, I would like to know how much of my wifes pay rise she will have to pay towards my iva. The IVA is in my sole name but my wife's income was used as part of the I&E calc at the beginning.
I currently earn £2100 a month
Wife earns £500 a month part time
After all the out goings I pay into the IVA £185 a month (currently)
Now my wife has gone full time she will earn £1100 month, £600 increase
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Geordie
- Posts: 87
- Joined: Mon Sep 10, 2007 10:30 pm
- Location:
I am sure an expert will be along soon to answer better than I but my take would be the £600 would be eligible for payment into the IVA. Of course any additional expenses for travel costs or other costs due to full time employment etc for your wife should be taken into account.
If all of your wifes income is to be part of the contribution, then be sure to include all of her outgoings to offset any uplift in the contribution.
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nepensioner
- Posts: 1967
- Joined: Sun Jul 11, 2010 4:55 pm
- Location:
Hi David, The only person who can answer this is your IP.Do give them a quick call tomorrow, and get it from the horses mouth.
F & F Accepted 19th Oct 2010
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Heretoday
- Posts: 454
- Joined: Tue Jun 19, 2012 2:51 pm
- Location:
There will be an increase in your houshold income. Your IP will want to see that your wife is paying a proportional share of the household bills such as gas,electric, rent etc.etc.
I would guess that you may have to pay some more as her income will be paying a greater share of these bills so leaving you with more disposable income.
It does not mean that all of her increase in wages will be lost into your IVA. You just need to think smart with your updated I&E!
Last edited by
Heretoday on Mon Sep 17, 2012 11:15 pm, edited 1 time in total.
7 years after starting an IVA I finally received a completion certificate from ClearDebt
