How individual is an IVA

[ivorquestion]

Are other not-dependents in a household considered when calculating what is a reasonable offer?

[hara]

What do yo mean Not dependents.

Can you elaborate please.

Hara.

[ivorquestion]

What do yo mean Not dependents.

Can you elaborate please.

Hara.

Oops you spotted my spelling error. I meant non-dependents i.e. someone you are related to but not someone you are married to or any child you have care over. An aunt or uncle for example.

[hara]

This is a tricky one,But my feeling is that if they are living with you o a permanent basis and contributing fianacially then they I presume their income and expenditure or as they not closely related they haveto be excluded then I do not see how you can include expenditure incurred on their behalf.

I ma sure Melanie Giles,Andy Davie or some one will have an answer.

Hara

[BECKY]

there contributions to the household are calculated in ur i& e eg if they pay half the bills ur expenditure will only be half of the bill. their income however is theres and is not calculated in with the contributions for ur iva

[emmaxpete]

Hi Ivorquestion - our 19 year old niece and her son live with us (her mum died when she was 13 and we became her legal gaurdian)! We have just had a call of our IP (in the process of going for an IVA), and they have said, if we want to put our niece and nephew down as part of our household expenditure we had to give details of her income!! Even though she is only on income support!! As she is over 18, they say she should be contributing something! So we have had to take her off the household expenditure, reducing it from £600, to £450 (even though she dosen't contribute any money) - as we do not want her to get involved in our IVA process (no body knows what we are doing - even our parents) - hope this answers your question!!

[iva_squirrel]

Good evening,

Yes, I agree with Becky. Let's say your uncle lives with you and helps you with the bills. We would include his contributions to your income considering that these payments are regular and sustainable. His own expenses however would not be included in your expenses list. (I assume he would be paying his own housekeeping, etc.)
Creditors most probably would not be very comfortable if your IVA entirely relied on his contributions.

Kind regards,

Julia Simavi

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[Adam Davies]

Hi
You just need to show ALL income and ALL expenses.
If you have a family member living with you and contributing cash then this should be decalared and off set with extra expenditure[food etc]However you need to be as sure as you can that this extra income is going to last the five year IVA term,if not make sure that your IP allows a provision for reduced payments if this income stops,and to make sure that they do not allow a no variation in the first two year clause.
Regards
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Oliver]

If someone lives with you and pays a contribution to you for rent, bills etc then this will be shown as an income and in turn any expense from this can be listed on your expenses section.

Creditors are likey to want to see that anyone non-dependant living with you is paying their fair share.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
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