Joint IVA Income

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Michael Peoples

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Post by Michael Peoples » Tue Jun 11, 2013 2:04 pm
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I agree with Melanie that you cannot do it as joint income because the IVAs are not joint. It is possible that one client has the 10% 50/50 rule whereas their partner or spouse may have had the 10% allowance removed by their creditors.

There would be a difference if one party suffered a drop in income from that listed in the proposal but even then it may require a variation to address the payments as the IPs discretion is limited.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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mole

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Post by mole » Tue Jun 11, 2013 7:08 pm
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I would speak to your payroll department, you will find they are usually very helpful if you wish to split any overtime/bonus payments into different calendar months salary. This may allow you to manage any payment under your 10% limit.
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