I am currently in year 4 of my IVA, my wife has taken out a credit card in her name since my last annual review, to cover monthly re-payments, she has increased her hours to pay for this.
As my IVA is only in my name and the card is only in her name, will this affect my IVA and would I add this onto my expenditure sheet for this current annual review?
Shouldn't affect you at all as long as she can afford to pay for it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If your Wife`s income is taken into account on your I&E form each year, then you should check this out with your case manager.
My partner`s income has always been included in my household income on my yearly I&E sheet and she has a credit card which has always been listed as `partner`s creditor commitments` in my IVA I&E outgoings.
After all, your Wife`s extra income will be taken into account when your final years payment is calculated, if her income is indeed included in your I&E.
Last edited by Goosed on Fri Jul 01, 2016 2:03 pm, edited 1 time in total.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
Good point, Goosed. However, there are only a few firms that include a solvent partner's income in the disposable income calculation -- but worth checking.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
