I started my IVA last April with creditfix after getting into £20k ish worth of debt with the now ex wife ( all in my name so not her problem ). I'm currently making 16 payments of £160 a month but this will increase to £313 (44 payments) in July august due to car finance ending. So my questions are:
1) my first annual review , i'm a little worried that during my initial review the guy on the phone was very generous for various expenses etc and this will come round and bite me in the ass. They did check statements initially so assume it should the same. Nothing has really changed so could i just use original numbers from I/E?
2) i now have a girlfriend who i've been with for 5 months. I know it's early days but we have talked about moving in together eventually. she doesn't know about my IVA and i know this could and may change payments. when should i tell her about my IVA?
3) I currently live in a one bedroom house. I have three children with my EX so as you can imagine it's very difficult and cramped when they are with me. If i move in with my GF the house will most likely be a three bed to accommodate us all. She is a vet so earns good money, obviously if we live together the monthly bills would be shared but would be higher due to bigger house. Guessing a new I /E would be needed. Do i tell my IP before the move or when i actually do
1) Use the same numbers .. they were verified at the time and there would be little change.
2) It is entirely up to you when, or indeed, if, you tell her about the IVA. Many couples, when they move in together during an IVA treat the incomer as a lodger, who pays a set proportion of the expenses. Her finances are no concern of the IVA, apart from working out a fair share of the expenses and, as a lodger, they would be already defined.
3) OK -- skip 2) above .... YOU are doing the moving in (ish). You will need to do an new I&E and she will be deemed to contribute a higher proportion of the household bills as she earns more. She can refuse to divulge her income, in which case they will assume 50/50 split. If the increased costs means your IVA payment drops below what you already pay by any great amount the change would have to go back to your creditors to reconsider the deal --- they could refuse and cancel the IVA or insist that payments remain as originally agreed. I would think it best to discuss the possibilities nearer the time, when you know it is going to happen and have a rough idea of the finances involved, but before you do anything.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk