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Posted: Mon May 12, 2008 5:14 pm
by Jasekent
Some may remmember my problems I had when my IVA was passed on to a new IP when the old one was apparently 'naughty' and did not infact retire. Trouble is the old company did not bother to inform me ! Well it is all sorted out now and I am a bit happier. Anyway , onto my question. The lease on the flat I am renting is due to expire soon and my girlfriend ( who is fully aware of my situation ) has talked about me moving in with her. She is slightly worried though that her house and everything in it could be at risk if anything goes wrong with my iva. As far as I am aware all of her posesions/ property are safe as long as we don't go into any joint financial arrangements. That isn't going to happen anyway but I would like to put her mind at rest ! Am I right or wrong on this matter ??
Jase
Posted: Mon May 12, 2008 5:25 pm
by Viki.W
Hey Jase, glad to see it all got sorted for you. I'm sure an expert will be along to help you with your query. Viki X
Posted: Mon May 12, 2008 5:39 pm
by Oliver
Hi,
If you move into your girl friends post IVA and things go wrong all her assets will be safe if you were to go bankrupt, what you will need to do though is inform your IP as you’re I&E will change. If you consequently incur debts that are joint then she will be liable and her property asset could be at risk. In all cases where there is going to be a major change in circumstances the first port of call for advice will be directly with the IP that is managing the IVA.
Posted: Mon May 12, 2008 5:46 pm
by MelanieGiles
And you will probably need to complete a new income and expenditure summary for your IP. given that your expenditure will probably change as a result of the move - ie you will be sharing the bills between you.
Posted: Mon May 12, 2008 5:47 pm
by Jasekent
So pretty much as I thought then , as long as everything financial remains seperate then her property/posessions are safe. I will inform my IP of the move and they will no doubt do another i/e report but financially things are hardly going to change. She may be my partner but she won't expect me to pay anything less than half of everything ( well, maybe not the mortgage but everything else! )
Jase
Posted: Mon May 12, 2008 8:21 pm
by Adam Davies
Hi
Good luck with the move.
You will be expected,by your IP,to pay any bills pro rata to earnings.So,for example,if you earn 60% of the total income then you will be expected to pay 60% of all household bills and your partner 40%
Regards