If my iva is in my name but they asked to see my partners bank statements at the start. If she became a compony director. And got a substantial pay increase can the iva take any of it.
Your IVA has nothing to do financially with your partner or your IP. They can not force her to disclose anything, despite some IP's trying bully tactics. As long as you can demonstrate she pays her share of household bills your IP has no hold over her to disclose any of her information.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
The only thing they will need to know is that you are sharing the household expenses.
They do not need to know of any payrises she has.
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
At your annual review you will be asked to state your partners income, this increased income may increase your share of the disposable income and hence your IVA payments may increase. If your partner decides not to co-operate by withholding her income details [quite within her rights to do this]your IP may assume that you share household expenses 50/50, again this may increase your disposable income and hence your IVA payments
She doesn't have to provide any personal information however if she doesn't your IP might be forced to assume that the household expenditure is split 50:50. This could therefore affect you if you actually pay more than 50% of the expenditure as 50% would leave you with a higher disposable income from which you will be expected to pay contributions into your IVA.
It depends upon how the original agreement was written and how the original disposable income was arrived at. The replies above are correct unless the HOUSEHOLD income was used initially, as some firms tend to do --- but this has to be enshrined in the agreement.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
