www.iva.co.uk

Hi,

My husband and i have a joint IVA. We are now separating but wondered what happens to the IVA. Is it re-assessed now there are 2 lots of household expenditures and each party pays their share or does the original amount agreed at the start of the IVA remain the same and its split 50/50.
We pay £210 a month, is this the minimum sum we have to pay or can it be less considering our split?

Hi,

Sorry to hear that you are separating. You'll be able to.have the ivas split so you need to speak to your IP as soon as,possible so that new I&E figures can be sorted for both of you.

ok. If our expenditure is higher can the amount to pay be lowered slightly?

I'm sure it can be sorted but it's something to discuss with your IP. They can lower payments by up to 15% without having to resort back to the creditors

Sorry to hear that you separating .....your finances will need to be reviewed by your IP and a new I&E will need to be completed for both of you to establish if the IVA s still able to be funded each month. Your IP will be the best place to offer specific advice for you both.