My hubby has just had a pay rise (well promotion) and I am in a lone IVA, he has told me that he does not want any of this extra money to go to the IVA as it's his money he has earnt (I can fully understand this as my debt was all accumulated prior to us being together) we currently have a 50/50 split on bills.
Would Step change except him to pay more of the bills or would they expect him to pay more towards the bills?
We don't own any assets and privately rent so if they wanted him to pay more I would need to look into bankruptcy :/
Any advice would be welcome before I call step change on Thursday (I'm assuming I have to tell them about his increase??)
was the 50/50 split due to a 50/50 (or therabouts) income split ?
the IP will want to ensure that the bills are split fairly (otherwise you could get in to the situation where 1 party pays the bills to avoid paying creditors)
Ultimately the information should be in your proposal (and chairmans report if here were modifications)
I will check the report but I'm sure it was 50/50 because he did earn slightly more than me but they put the child tax we receive as my income which made us on equal pay? (The tax credits is obviously a joint claim which will reduce a lot this year now)
Your IP firm ought to look at both incomes, to assess what each one can reasonably afford to contribute towards shared bills. Some IPs take the view that a 50/50 split is reasonable, so you will need to check with StepChange as to what their policy is.
I would prepare yourself to have to consider making higher payments to be honest, but would be interested to know the outcome of this one.
