Hi once we have been assessed on our joint income if I get a pay rise do I have to declare this? Its hubby that is doing the iva and we dont have any joint bank accounts etc. Thanks
It will all depend on which company you go with. Your payrise should be yours to do with as you like but of course the household income would go up so payments might increase.
Whoever you speak to, ask them about this.
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
Most companies only use the income level of the non IVA spouse to apportion the share of household expenses. A few use household income in it's entirely to determine disposable income (which means the non-IVA spouse is, effectively, paying some of the debt back).
If you have the former your money is your business -- if the latter then you will need to keep them informed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Right thanks Lisa. Yes its the liquidator that has said about the IVA. Its all been such a whirlwind. Ive cried everyday as I didnt know anything about it. He used all our savings, our sons and became a personal guaurantor on supplier accounts. It could be a million pounds he owes out now! What a mess. We have two holidays to Florida booked. One in Aug and one next Aug. Trying to positive for our son but its so hard. #128557;#128557;
