How would events such as moving into partners house, starting working, affect my IVA ?

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Michelleds91

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Post by Michelleds91 » Tue Sep 27, 2016 2:51 pm
I have an IVA. If I moved into my partners house with him, how would this effect my iva if at all? I don't want my new partner to be anything to do with my iva? It's my debt and nothing to do with him. Also if I started working, as I'm on benefits at the moment how would this also effect my iva?
 
 

kallis3

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Post by kallis3 » Tue Sep 27, 2016 3:47 pm
Hi and welcome,

If you start work then your IVA will be affected as payments will more than likely go up.

As to to your partner then you could say that you are renting from him rather than him being a partner? Get him to give you a rent book.
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
 
 

Foggy

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Post by Foggy » Tue Sep 27, 2016 3:48 pm
Moving in with him would affect your disposable income as many of the household bills will them be shared -- this will increase your IVA payment. If you are with Payplan they will also take his disposable income into the IVA ( unfairly in my view, but that is how they work). Getting work will also increase your income and this will, in turn, increase your IVA payment.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Michael Peoples

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Post by Michael Peoples » Tue Sep 27, 2016 3:49 pm
If you have no assets and are not working an IVA does not seem the best option for you but that is a separate argument altogether.

If you move in with your partner any benefits would be affected which would totally remove any surplus income. If you start work you could pay an amount to him effectively as a lodger and do the income and expenditure on this basis. You need to keep the IP informed of any changes of address or circumstances but your partner should be affected in any way.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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