Hi, I would like to know how much of my wifes pay rise she will have to pay towards my iva. The IVA is in my sole name but my wife's income was used as part of the I&E calc at the beginning.I currently earn £2100 a monthWife earns £500 a month part timeAfter all the out goings I pay into the IVA £185 a month (currently)Now my wife has gone full time she will earn £1100 month, £600 increase. So the question is of this £600 increase how much is she likely have to pay into the IVA?Thanks in advance for any helpful information
This is difficult to answer as there are factors such as childcare, additional tarvel etc to be decided. What needs to be done is a new I&E whereby she pays proportionately to her earning capacity but her surplus income is hers to keep. Your payments may only increase by 50% of the additional surplus in your name so the amount may not be huge.
I would think there will be an increase but nowhere near £600 per month.
