Hello, after a bit of advice, I’m 1 year into my Iva, I live alone with my young son, but hoping for my partner to move in next year. If he does, how does this affect my Iva? I currently receive tax credits - which il no longer get when he moves in therefore my income will drop substantially. Yes he will contribute towards the household bills but how does this work without him being affected by my debt. From doing a bit of research it seems I need to do a new I&E report including my partners income? We are not financially linked in any way nor do we intend to be. I’m so concerned that my Iva will affect my partner, if not directly impacted by it, will they expect him to cover all the household bills? I have my own personal bills also but the more I look into this the more confusing it gets. Thanks in advance
They will expect him to cover his fair share of the bills, which they will calculate by reference to his income level, compared to yours. This will allow you to increase your IVA payment by that amount, after taking into account the increase in those expenses as well. He is perfectly free to refuse to divulge his income, in which case they will assume a 50/50 split.
The IVA should not directly impact on him or his credit score at all.
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