If my partner gets a job will her salary go towards my IVA?
Posted: Sun Oct 08, 2017 5:42 am
I've been accepted onto an IVA paying back 120 a month for the next 45 months followed by 15 months at 420 (HP of 300 ends). My debt is just over 22000 and based on the above Im paying back 11700. My question is what happens if my partners gets a job. (currently a stay at home mum looking after 4 children, so would be evening, night or weekend work probably bringing in an extra 800 a month). I know I add 50% of my wage increases to the IVA, Does all her wage go towards the IVA or is it the same 50% rule, or maybe something different?
If it is 50% (400) we will be finished paying back in just over 42 months. which in my opinion seams a little unfair as the IVA has been agreed to payed back over 60 months. which we you consider the HP mentioned above means my partners only needs to add 175 a month ((120+175)*45)+((120+175+300)*15)= 22200.
I understand that I've messed up and got into these debts and its 100% my fault and that i should pay them back and I'm happy for the extra 50% of my own wage got into the IVA but throughout the application I was told the repayments needed to be fair, which for my partner I think 50% is too much when shes not required by the IVA to contribute anything!
Does anyone have any experience with this, that can give me some insight?
If it is 50% (400) we will be finished paying back in just over 42 months. which in my opinion seams a little unfair as the IVA has been agreed to payed back over 60 months. which we you consider the HP mentioned above means my partners only needs to add 175 a month ((120+175)*45)+((120+175+300)*15)= 22200.
I understand that I've messed up and got into these debts and its 100% my fault and that i should pay them back and I'm happy for the extra 50% of my own wage got into the IVA but throughout the application I was told the repayments needed to be fair, which for my partner I think 50% is too much when shes not required by the IVA to contribute anything!
Does anyone have any experience with this, that can give me some insight?