my wife has an IVA from debt she accumulated before we were together and she is now in the last year of this. The problem we have is that the IVA has been taken over by a new company now and they want to know my details.
We have always given my salary in the past to so they know there is a fair split on outgoings etc. However this new company has contacted her and said they want my outgoings and expenditure on top of my salary. For obvious reasons both myself and my wife are not too pleased about this, as they are able to see from my salary we are both paying a fair share towards household outgoings, and what is left over in my bank shouldn't be any of their concern.
Can we refuse to give this information? Everything we have done in the past regarding this IVA has been 100% above board, and I don't want so company who has nothing to do with me having records of my outgoings more than they already have.
Your wife's IVA is in her name and relates to her debt .... your finances are your business. The 'I' in 'IVA' stands for 'Individual'.
As you say, most firms like to have an idea of a partner's income in order to work out the fair share of expenses to apportion to each --- in the absence of this they usually assume a 50 / 50 split. Even in this day and age there are some couples who genuinely have no idea of each other's finances and there is no reason that your partners IP should need to know either.
There are one or two firms who actually work on 'household income' and use a solvent partner's disposable income in the IVA payment as well and, if the IVA was originally agreed on that basis, you would be stuck with it --- but, in your case it wasn't.
That all said, they could simply still be wanting this information to calculate the expenses apportionment more accurately, by making due allowance for any of your expenses which could be considered to be still 'joint' or 'essential' -- however, this is probably taking things too far !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Tue Sep 21, 2021 10:18 amFoggy wrote:
That all said, they could simply still be wanting this information to calculate the expenses apportionment more accurately, by making due allowance for any of your expenses which could be considered to be still 'joint' or 'essential' -- however, this is probably taking things too far !
Even if they want this information, I would be under no obligation to provide it, is that correct?
Tue Sep 21, 2021 11:07 amnekrom4n wrote:
Thanks for the reply, just to confirm
Tue Sep 21, 2021 10:18 amFoggy wrote:
That all said, they could simply still be wanting this information to calculate the expenses apportionment more accurately, by making due allowance for any of your expenses which could be considered to be still 'joint' or 'essential' -- however, this is probably taking things too far !
Even if they want this information, I would be under no obligation to provide it, is that correct?
Unless it was agreed at the outset, no, you are not obliged, as far as I am aware, to divulge your own personal and private details.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
