Hi, Im sure this question has probably been asked and answered many times before. I am in an IVA that is solely mine, the debts was from a previous marriage. I understand when you take our your IVA you declare yours and your partners earnings. I also understand that if I get a payrise, think I am allowed 10% then the rest goes into my IVA. However what if my partner gets a payrise. Our money is split and we have separate bank accounts. We pay the bills jointly and I pay my IVA, whatever money is left over we keep to ourselves. Do I have to declare if he gets a payrise as he is not responsible for the IVA.
Just a bit worried that I may have to ask him in the future to give up his payrise if he gets one when the IVA is nothing to do with him.
I have just read through some olds posts and think I have answered my own question. They can only take my payrise and overtime off me not my partners ))
He will not have to pay over his payrise, but as he will be earning more, then he may have to pay more in household expenditure, therefore freeing up more of your money to pay to the IVA. You should both be paying your fair share of the bills in relation to how much each of you earn. If it is just a cost of living payrise then this will be used for any increase in expenditure anyway. X
Viki is right - when one partner receives a payrise, there is usually an adjustment made to the sharing ratios of combined expenditure. This could cause you to have to increase your payments, but you must both be seen to be paying a fair share of the household expenditure.
Thanks -I think most of his increase will be taken up in buy a car. We only have one car and his new job means he travels in the opposite direction to me so therefore needs to able to get there. Is this allowed?
))
