I'm been in an IVA for 7 months now

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sean

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Post by sean » Wed Jul 28, 2010 5:18 am
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I'm been in an IVA for 7 months now and my wife has started her own company which is earning about £60 a week the IVA is in my name and all my debt, I'm due for a review in 5 months do I have to tell them about wife's income by law?
Kind regards

Sean
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size5

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Post by size5 » Wed Jul 28, 2010 9:45 am
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Always best to disclose any material changes to your own IP for your own peace of mind as much as anything else, however I very much doubt, given the scenario that you have outlined, that there would be any change to your IVA.

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MelanieGiles

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Post by MelanieGiles » Wed Jul 28, 2010 11:16 pm
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If your wife's income has increased, then you may find that your payments will be reassessed at the annual review point, given that this may enable her to contribute more to the household expenditure, and you therefore less.
Regards, Melanie Giles, Insolvency Practitioner
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