how will marriage effect an IVA?

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tony_m

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Post by tony_m » Sun Jul 13, 2008 7:51 am
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If a person has an IVA in place, what effect, if any, will there be on the person's circumstances if they get married ie can the IVA be re-calculated to take in the earnings of the new spouse
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luluj

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Post by luluj » Sun Jul 13, 2008 8:00 am
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My understanding is there earnings will only be looked at to ensure you are paying your share of the bills - they will not be incoporated into the IVA as far as increasing the £return to creditors
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pbeck

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Post by pbeck » Sun Jul 13, 2008 9:35 am
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Yes, but you would be expected to share the household bills in the proportion in which you both bring money into the household, so if you married someone earning a fortune, then that would mean that as they would be paying a greater share of the household bills, you would have more left over from your own income which you might be obliged to pay into the IVA.

At the end of the day you need to see what your proposal says about this as that will be the deciding factor.
Philip Beck - www.freeivaadvice.co.uk

Licensed Insolvency Practitioner and IVA specialist since 1996.
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