I currently have an IVA and have to send in an income and expenditure account yearly. Can you please let me know whether I will be expected to increase my monthly IVA payment next year when my wife receives her state pension. The IVA is in my name only.
If the pension increases her overall income the IP will expect her share of the household expenses burden to increase in proportion, thereby releasing a little of your income, so your payment might increase a little.
One firm, in particular, tends to base the disposable income on household income, rather unfairly in mt view, so might take a different approach.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
