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Posted: Sat Oct 03, 2015 5:15 am
by D.22
my wife has just inherited money does it need to pay my sole iva off
Posted: Sat Oct 03, 2015 6:36 am
by luluj
If your iva is solely in your name then no the inheritance is not required for the benefit of your creditors.
Posted: Sat Oct 03, 2015 7:54 am
by relieved33
As above but, would your wife consider supporting you with a full and final offer to complete? I know I would have got rid of the burden if I could!
Posted: Sat Oct 03, 2015 1:15 pm
by D.22
my wife is in a dmp and wanted to pay her debts off but payplan said she has to tell the iva people which is also payplan
Posted: Sat Oct 03, 2015 1:19 pm
by thisusernameistaken
Payplan are wrong. Her inheritance has nothing to do with your IVA.
Posted: Sat Oct 03, 2015 1:26 pm
by kallis3
Agree - her inheritance is hers to do with as she wishes - she could cover her own debts and least one of you would be debt free.
Posted: Sat Oct 03, 2015 2:30 pm
by D.22
thankyou,il tell her to pay hers off and not to worry about the iva
Posted: Sat Oct 03, 2015 2:41 pm
by Michael Peoples
If your wife does pay her debts off then make sure Payplan do not try and up your monthly payments using her surplus income. She has no obligation to do this but I have seen Payplan taking a spouses income to fund an IVA. Your wife should seek some independent advice if she is to settle these debts as she may get a discount. Payplan are funded by the banks so it is always worth getting an opinion elsewhere.
Posted: Sat Oct 03, 2015 2:44 pm
by D.22
im just wondering they have woked out £40 a week for all shopping not just food as we do struggle
Posted: Sat Oct 03, 2015 2:46 pm
by D.22
my wife only has £10 a month to pay her dmp when they worked out our income and out goings for the iva
Posted: Sat Oct 03, 2015 2:49 pm
by kallis3
£40 a week for shopping is terrible, even if it's just for two of you!
Posted: Sat Oct 03, 2015 3:03 pm
by D.22
i know some people might think its enough but when youv got to get toiletries and cleaning products and we live in an expensive area so items are dearer,what is the going rate payplan wont tell me they just say its fine
Posted: Sat Oct 03, 2015 3:08 pm
by kallis3
Doesn't matter where you live, you cannot be expected to buy food, toiletries etc for that amount.
What other allowances do you have?
Posted: Sat Oct 03, 2015 3:09 pm
by D.22
none
Posted: Sat Oct 03, 2015 3:13 pm
by kallis3
You should have allowances for such things as haircuts, dental, fuel if you have a car (plus maintainence) even newspapers and a social fund.