My parter has moved in. He has 26k debt. He wants to take out an IVA in his name only. I don't want anything to do with his debt. The company we spoke to said they needed 3 of his wage slips and one of mine. I don't understand why they need to see my wage slips? Can you advise please?
Hi
Unfortunately the creditors request a full household income and expenditure for all clients looking at an IVA.
This is just to ensure that any one person isnt paying more than their share of the household bills.
It doesnt mean that you are part of the IVA too.
Why don't you argue you are flatmates - sharing the bills on a 50/50 basis. If he has only just moved in with you, creditors can hardly demand your share of the disposable income be utilised to pay his debts.
Melanie is right and get your Partner to explain that to his IP provider - and the IP provider does not play ball - change to someone who will!
You have nothing to do with his debts whatsoever but should contribute either 50% of all household expenses OR (but this would mean disclosing your income) pro-rata to yours and your partners gross income.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Sorry what is an IP provider am new to this. Also will my partner taking out an IVA go against my house? It is a council house I am hoping to buy at some point! Thanks
If you are looking at proposing an IVA - then you will have to find an insolvency practitioner to represent you. There are about 1,800 of us around the country, but not all specialise in personal insolvency.
