My partner is just into an IVA. We are cohabiting and my income expenditure has been included in his IVA. I own and am selling a small flat to fund a years study at university for my Masters. I'd like to pay off a car loan in my name, but how will this impact on his IVA? Does he need to report this change immediately or is it covered at the next annual review?
If the extra available cash is say £450 how much would be claimed by the IVA? This raises another question as I've been reading up on the allowances, and there's a number that we haven't claimed, would this be a variation or wait for annual review?
Anything else I should consider. It is not a joint IVA the capital from the sale is mine. Is there anything else I should consider?
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