My wife is at breaking point

[paul r]

I have been paying my IVA for the past 2 years and it has been difficult. My wife is at breaking point becuase all the debts are mine and nothing to do with her but under the terms of the IVA her incomings and outgoings are rationed the same. She and my kids are suffering becuase of my mistakes so apart from divorcing me what rights does she have here?

I pay a lot more money then I was originally led to believe but I went for it anyway to releive the stress from my creditors

[aguise]

Hi Paul and welcome to the forum.
I am not a technical expert, but I would think the best thing to do would be to speak to your IP and see if there is anything that can be done to ease the situation for you and your wife. Ask to do another income and expenditure if you have had rises, which I am sure you have as, we are all feeling the pinch a little with fuel etc.
Paul at reviva on the experts page may be able to give some advice. I do hope you can find some relief, try not to let it affect your relationship, that is so much more important than money, but I can understand the strain it can cause.
Wait for other answers.
all the best

Ang

[Soulgrowth]

Hi Paul ... welcome to the Forum.

I would agree with Ang above ... speak to your IP and see whether you perhaps need to have an updated review, especially since the cost of living has changed so drastically of late. As I am sure you know, your wife's income won't necessarily be drawn on to pay your IVA but it will be taken into account that you have two incomes in your household when the amount that you can pay is worked out ... that's why, as a single person, my monthly IVA payments were relatively low (£250).

May I ask what your total debt as included in your IVA was, and how much per month you are paying? And also what your joint incomes are ... I only ask as it will help the experts to cast an eye over the figures for you.

All the best ... and there will be an end to it if you can only just hang on.

Debbie

[Adam Davies]

Hi
If you have no luck with reducing your payments to a more realistic level then bankruptcy is always an option and will free up more disposible income.However you need to take advise as bankruptcy may affect your property.
Your relationship is far more important than money so now is the time to do something about it.
First port of call is your IP
Good luck