Will my monthly payments be affected by my partners wage increase ?

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danny

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Post by danny » Thu Mar 23, 2017 7:25 pm
My partners income is due to Increase by 252 a month in July. Will this affect my iva I am currently paying 270 a month

danny

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Post by danny » Thu Mar 23, 2017 7:35 pm
i was wondering what happens when my partners wage increases in july . she will be on 252 a month more , will this affect any of my monthly payments

Foggy

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Post by Foggy » Thu Mar 23, 2017 8:00 pm
If you are not with Payplan they should not --- if anything they might add a few quid to your disposable income as she can be considered to be able to take on a higher percentage of househiold expenses. However, in many cases, the solvent spouses income isn't factored in once the initial ratio of expenses has been established. This is also assuming you are in the IVA and she is not in one also.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Foggy

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Post by Foggy » Thu Mar 23, 2017 8:07 pm
duplicate topics merged.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Michael Peoples

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Post by Michael Peoples » Fri Mar 24, 2017 10:16 am
If your partner is not in the IVA and your IP did not have details of her earnings then he/she would have assumed a 50/50 split of the bills. Your partner's earnings are hers to keep so possibly your IVA payments are not affected. It depends on who you are with and what was done at the time of the IVA.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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