We have recently split up. If my wife gets an IVA will it effect my income ?

[Pauldm67]

hello, my wife and I have recently split up (2 months) due to my wife running up c/cards and other bills without my knowledge ( 2nd time). She has told me that she is going to try for I.V.A, will this effect my income. we have two daughters and I still pay for the mortgage and a few other things that I don't want the girls to be without (sky, broadband). I have told that they will take money from my wage is this true? Many thanks for you help.

[Adam Davies]

Hi

No one can take money from your wages unless they have a court order and there is no reason for this if your wife enters into an IVA

One area to consider is your house as your wife's equity share may have to go into her IVA

Regards

[Foggy]

If you are currently separated the IVA will be based upon your wife's income and her share of expenses.

If you reconcile during the life of the IVA her share of expenses would need to be re-assessed and your level of income used as a guide to the division of bills.