Would my IVA be affected if I stopped paying mortgage for my ex wife and daughter ?

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Pauldc26

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Post by Pauldc26 » Mon May 02, 2016 11:31 pm
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I split up with my wife last summer, I am paying the mortgage for my ex wife and my daughter. Now she is asking for maintenance and going down the CSA route. I think I am providing enough for my daughter as my wife does not pay rent and I was wondering if I stopped paying the mortgage would this affect my IVA ?
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Foggy

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Post by Foggy » Tue May 03, 2016 8:08 am
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Assuming that your current payment is included in your agreed allowances, when you stop paying this it will be added to your IVA payment. On the other side of the coin Maintenance should be added to your allowances and reduce the payment, but this could have an adverse effect on the viability of the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Lisa Thomas

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Post by Lisa Thomas » Tue May 03, 2016 10:32 am
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Only in that if your disposable income increases because you are no longer spending so much then your contributions will increase accordingly.

So I suspect depending on how the figures work out you will either be providing for your daughter or paying more funds back to your creditors...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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