My daughter is living with her boyfriend. He's recently divorced and his wife declared herself bankrupt. This has left him with a £20,000 debt from the house sale and Nat West seem to have passed the debt on to Shoosmiths(?). My question is, if he goes down the IVA route, will my daughter be included in things like household income?
It does depend upon the firm that is used. Some do include all household income in the calculation which would result in all household members repaying the debt. However the majority, as luluj says, only use the partners income to calculate each persons share of the household expenses. She is perfectly entitled to withold that information, in which event the IP will assume a 50/50 split of expenses.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
The fact that the debts relate to a previous relationship means that your daughter has no moral obligation to assist her boyfriend never mind a legal one. However I would suggest she does help him gather the info and perhaps even speaks with his IP to determine whether a 50/50 split is best or not.
He should avoid those bank funded agencies that try and take all household surplus income and get his advice from the independent, professional sector.
Many thanks for your responses. My daughter and her boyfriend are in their early twenties so all advice is most welcome [:)].
His ex wife had run up large debts (including credit cards) and decided to go for bankruptcy as it would mean she wouldn't have to pay a penny.
Doesn't seem fair somehow[:(]
