I am probably needing to enter an iva but I pay some of the household bills and partner pays others, how does this work to enter an iva (for example I pay for car payments, childcare, council tax, and electric and other half pays rent), but only me entering iva
Which company are you looking at - give Andy Davie/Vincent Bond a ring for some free advice (details under the expert link on the left hand side)
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Bills are usually totalled and pais in ratio to earning e.g. you earn twice as much as partner, you pay 2/3 of bills. You need to be careful as some companies take household income and calculate household disposable income. Give a few companies a call to see what they say.
Some companies use the whole of the household income to calculate payments regardless of who is going into the IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As Relieved said, expenses are usually totalled and apportioned according to the relative earnings share.
A few companies use household income to calculate the disposable income (IVA payment), which results in the non-IVA spouse contributing to the payment.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
