My daughter has got a job she has just turned 18. Will she be included in our IVA ?

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
 
 

Emmad157

User avatar
Posts: 18
Joined: Thu May 03, 2012 1:24 pm

Post by Emmad157 » Sun Jun 14, 2015 1:30 pm
hi my daughter has got a job she has just turned 18 will she be included in our iva plan 3rd year just completed regards craig
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sun Jun 14, 2015 1:44 pm
It is a possibility if your IP is with Payplan ( I have seen it happen before). In any event your allowances will change as she is no longer a dependent, and will be expected to pay her own way and share of household expenses -- which will affect your repayment.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

lifenoteasy

User avatar
Posts: 3248
Joined: Thu Feb 05, 2015 2:26 pm
Location: United Kingdom

Post by lifenoteasy » Sun Jun 14, 2015 2:09 pm
I would suggest agree an amount for rent etc., claim the normal allowance for an adult and then pay the IVA the difference etc.

We intend doing that with the impact that any "rent" will be paid to the IVA.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:

Post by Michael Peoples » Mon Jun 15, 2015 1:03 pm
You could lose any child benefit/tax credits paid for your daughter so the overall family budget may be unaffected. Indeed if she moved out you could be worse off so update your IP. If you can still afford the payments there should be no real problem and hopefully next couple of years fly by.
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
 
 

lifenoteasy

User avatar
Posts: 3248
Joined: Thu Feb 05, 2015 2:26 pm
Location: United Kingdom

Post by lifenoteasy » Mon Jun 15, 2015 1:09 pm
We lost child benefit and maintenance when child went into apprenticeship pre 18.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”