Hi I am Sue and new to this site. I didn't know anything like this existed until I came by it by accident. I have had my iva just over a year now and I think I'm doing ok. I am planing to move in with my partner at the end of January and I am wondering if F Jones will want his financial details - he is nothing to do with my iva - and although we have just opened a joint account - this is for bills only and we will both have our seperate bank accounts for our wages etc..I don't know all his financial details and I'm not sure if he will be happy disclosing them to F Jones either. Can anyone give me any advice?[?][8)]
Hi Sue and welcome to the forum.
It is best to disclose to F Jones that your partner will be moving in as this will inevitably have an effect on your household budgeting from which your monthly contributions are calculated from.
The best thing to do is speak to them, outline what will happen and ask them what is likely to happen in terms of your IVA.
Hi Sue. You will have to notify your IP of the change in circumstances not least because it will be a change of address. I assume you rented before and provided your outgoings remain the same your IVA payments will be unaffected. If it is your partner's property already it may be best to pay a rent inclusive or exclusive of bills and if it is a property you are renting together your IP will just want to make sure you each pay your fair share of the bills.
Thank you for the advice. I still feel very nervous having to talk to my IP, can't get over that feeling of having done something very wrong in having got into this situatin in the first place, I know that they have always been helpful and friendly, but i get very anxious all the same..daft eh?
You should never be afraid to speak to your IP as your contributions fund the business and pay the wages. Some IPs seem to forget this and make themselves unapproachable but at least yours does not sound like one of those. It is in everyone's interest for the IVA to run it's course smoothly and your IP will be delighted if you keep him/her up to date with all changes.
Thanks..
Can I please ask another question? I currently work as a pharmacy tech' which I enjoy, but does not pay fabulously well and I am constantly struggling to manage. I am looking to broaden my horizons, so to speak and am looking into the prospect of studying accountancy by distance learning (so that i am able to work as well). I feel that I could do this and that it could provide both myself and my daughter with a better and more secure future.
My question is..would having an iva prevent me from practicing accountancy (should i qualify that is)?
The plain answer is no. However, when you apply for a job with an accountancy firm it is likely that the question of insolvency will be listed. You will have to answer honestly the question and it is then down to the policies of that individual company as to whether or not they would hire you.
The regulators do not have an issue with IVAs provided there was no fraud involved or loss of clients' money.
Why don't you treat yourselves as flatmates? Just because you are starting out on a new relationship, this is not the business of your creditors or your IP - so long as you can demonstrate that you are not worsening your position by making the move.
thanks for the suggestion Melanie...how would that work out with regards to the paying of the bills and what my IP ould want to know. At present all the billa are in his name. We are opening a joint account that we each pay the same money into as a "bills account". Is that advisable, or what would you reccomend, as it it his house that I am moving into...I don't want to do anything that would get me into any trouble with my IP. Hope I don't sound like a bit of a din, but I don't really want him to have anything to do with all this if atall possible
Get your partner to work out a sum that you should pay towards the rent and bills, and get him to provide you with a rent book so that you can demonstrate that your contribution is legitimate. I think that a bills account is a great idea, and having a joint account means that you can pay the bills with ease.
You definately do not sound dim! In fact I would say you sound very responsible - and you are right to want to protect your partner from financial difficulties which probably relate to a period prior to your meeting.
