I'm considering an iva . I'm confused though ... All debts in my name so want to go for single UVA obviously. My husband and I pay half each towards household bills etc so would want this to continue. Am worried he will have to pay towards my iva when it's not his mess
Most companies only use the solvent partners income to calculate the others fair share of household expenses. If the solvent partner refuses to share this information ( as is their right) then a 50 / 50 split is assumed.
Some companies use HOUSEHOLD income to calculate the IVA payments, which, effectively results in the solvent partner repaying the others debt!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You will be fine as foggy explains ...your partners income will only be used to ensure household expenditure is shared proportionally to income .... good luck.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Hi and welcome to the forum. Hope the others have reassured you but do talk this through in full with your proposed IP and see how they deal with single IVA's.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
If in doubt try more than one company and go with the one that you feel most comfortable with. A 50/50 split is fine to do but if you earn more than your husband it may work in your favour to do a total household budget.