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Posted: Fri Oct 19, 2007 4:01 am
by john.my
If I am granted an IVA, does this impact on my partner ?
Posted: Fri Oct 19, 2007 5:30 am
by GetStraight
Hi. Your partner isn't liable for any of your debt. However, when you complete your Income and Expenditure statement, which determines how much you will pay back, you will have to include your partners income and expenditure if you are living together. In other words, the I & E statement is for your "household". The amount you repay will be what is left from your wages/salary after your contribution to the household expenditure budget. Hope that makes sense?
Posted: Fri Oct 19, 2007 10:10 am
by MelanieGiles
The only reason for the inclusion of your partner's income into this calculation is to ensure that you both are paying a fair share towards your household expenditure - based upon your income ratios.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Fri Oct 19, 2007 10:43 am
by iva experts
Hi John,
Your partners income will be needed as to show that you are paying your fair share of the household bills etc and show that you are not supporting your partner whilst trying to propose the best offer for your creditors.
Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Posted: Fri Oct 19, 2007 10:51 am
by iva_squirrel
Hi john.my
You will likely be committing to a joint income and expenditure budget however he wont be included in your IVA.
Regards,
Michelle P.