Does your employer get informed ? I am applying for single iva and my husbands income has been included in household income so It looks like he is paying towards my debt ... Can't be right surely ?
Hi and welcome to the forum - this place is a goldmine of information!
Your employer will not be informed. If you work in the financial sector I think there might be implications though.
Your husband's income is taken into account only for household bills.
Therefore if you and your husband earn the same, he will be expected to pay 50% of the household bills. If you earn twice what he does you'll pay 75% and he'll pay 25% etc...
Your husband does NOT have to disclose anything at all including his income. However, if he chooses not to, the IVA company will assume he can take care of 50% of the bills.
Therefore, if he earns significantly more than you it might be in his interest to not disclose his financial details.
Hi, the information given by Hubert is essentially correct ... however, some firms use household income towards the IVA payment, which does result in the solvent partner, effectively paying some of the debt.
I would suggest you have a chat with a couple more firms, other than those in the "charity sector".
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As I have mentioned before Payplan have always included my husbands income and he has also had to pay over half of any pay rises at the annual review the same as me. However they have never asked to see his payslips other than at the start of the IVA. I am not sure what would have happened if he had not agreed to this.
This does not sound correct so get a second opinion. If you have only taken advice from the bank funded charity sector you should approach an independent, professional firm too.
