You will be allowed some money in an IVA, you are not expected to cut yourself off from society!
You will put in an income and expenditure form, and this needs to be realistic, then your payment can be decided. If you look at the CCCS website, they have a budget sheet on there with suggested amounts for allowances.
How much disposable income do you have left once your priority debts (not your unsecured credit) have been paid each month?
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
If they have included your husband's income, but not his debt repayments, how do they expect him to help you pay your payments and cover his own debts?
Have you actually spoken to anyone at this firm - for instance an insolvency practitioner or a senior member of his/her team?
Hi, I don;t really understand it all, its a very grey area as most iva's seem to be couples or single people. I am ringing you tomorrow to ask you to represent me, i have read your profile and you have a very good reputation going by the forum
I would be very wary of agreeing to this proposal if they aren't allowing your husband the money to pay his debts. It would probably be worth you getting a second opinion, and I know Melanie is highly recommended by people on the forum.
You will be allowed some money in an IVA, you are not expected to cut yourself off from society!
You will put in an income and expenditure form, and this needs to be realistic, then your payment can be decided. If you look at the CCCS website, they have a budget sheet on there with suggested amounts for allowances.
How much disposable income do you have left once your priority debts
(not your unsecured credit) have been paid each month?Nothing
I will be happy to discuss this with you - as it is vitally important at this stage to make sure that your husband is not being unfairly prejudiced in your IVA. He must be left with sufficient income to repay his debts under normal contractual terms, otherwise he will end up being insolvent himself!
Don't worry - and there is no harm in taking a second opinion.
They cannot control someone else's income, but if they see a non-insolvent partner left with spare money at the end of the month it is likely that they will ask for that to paid over as well on the basis that they assume he/she will have benefitted from the debts. This may or may not be acceptable depending upon circumstances.
