www.iva.co.uk

Hi guys and gals i have a question for you. My wife and i and have been split up for a good few months now and we have now decided its time to seperate completly but to do this one of us needs to move out. The house we live in is in my name only and is in the terms of my iva for a remortgage in month 54. I am looking at moving into a friends flat at a rate of 450 a month so my wife can stay at the family home with our children so there are as few disruptions to the children as possible. Is this ok to do while in an iva and will my new outgoings be based on my new home. Also are child maintenance taken into account as she is still going to need some financial support from me. The house will still remain in my name i will just be paying rent on another property instead of the mortgage and my wife will be paying the mortgage on the family home. Obviously at some point we will need to sort the house out (ill probably sign it over to her after the iva)

Hi James,

I am so sorry to hear that you have split.

You need to speak to your IP about this so a new I&E can be done. I am sure that your IVA can be sorted out. I am sure that it will be sorted out so that your kids are settled.

Jameshale6 - As kallis has suggested speak to you IP about your change of circumstances.
If you are planning a divorce you may find the house given to your children/wife as part of the divorce package - therefore you may find it having to be excluded from the IVA.

Either way - Best wishes

So sorry to hear about the break up, but at least it seems fairly amicable and sensible.

Will the new living arrangements affect your ability to fund your IVA payments at all?

i have spoke to my ip and i will be sent out a new I&E form, i have done a rough calculation and with paying maintenance i can continue making the same payments as i currently am. i dont suppose anyone knows what i should be paying maintenance i have allocated 150 is this resonable for 3 children as i will be paying the iva to

Under CSA rulings, for three children you should pay 25% of your net take home salary, which is reduced proportionally for each night that the children stay with you.