I am going into an IVA alone as my wife has insufficient debts or creditors to be included in a joint iva. i understand her earnings will be taken into consideration with the iva calculations, but what will happen to her savings?
she has only a small amount, but will i have to include these in my iva 'pot'? as theya re in an account that i have no access to withdraw it seems odd, but...?
Your wife's savings are hers, and your creditors will not be able to grab them. You will certainly not have to include these in your IVA, unless of course your wife wants to give them to you (and I am sure she will not!).
Best to keep them safe for a rainy day, as there are bound to be one or two of those along the way!
thank you - I guess, even with the best laid plans... we do afterall live in one of the most miserable countries in the world when it comes to sunny days!
Ah Melanie, we've had a couple of sunny days, so we can't complain.[8D]
Piston Broke - definitely keep your wife's savings separate. It's unbelievable the amount of things that break down whilst in an IVA..i.e car, shower etc..
