Just been accepted for my Iva but modification for wife to get a job

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Badboy1977

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Post by Badboy1977 » Fri Jul 26, 2019 4:01 pm
Hi

I have just been accepted for my Iva with CF but there as been a modification that she needs to find full time employment and extra income coming in will paid to creditors.

I have argued my wife only moved to England 8 months ago and my debt is my problem.

If she does get job how evasive can they be at looking at her finances. Also what will she be forced to pay out her wages to pay my debts?

I owe 52000 and will have to pay £315 month.

Say for instance she comes home with £1000 how much will go to creditors as CF have already taken into account that what I’m paying now is including my wife in the expenditure?

Jessie91

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Post by Jessie91 » Fri Jul 26, 2019 4:15 pm
Hi,
I just got accepted this week for my iva with creditfix but I’m also married and they asked to see my husbands bank statement income wise from his job, only because they wanted to see what total income we have coming into the house. My iva has nothing to do with husband it’s all me so nothing is in his name or attached to him or his accounts all on me as the debts in my name.
I’m shocked they want your wife to get a job and then contribute if that’s what there asking when she no attachment to your debts (name on the debts etc) as they never did to me.
I could be wrong as fairly new to all of this iva thing. Sure there’s an explanation why?

Foggy

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Post by Foggy » Fri Jul 26, 2019 4:37 pm
This does sometimes get asked as a modification by some creditors, though rarely. Your payment against debt level seems to be fair enough without this grossly unfair and invasive modification.

Have you got the exact wording of the modification ?

I am guessing is that their thinking is, if she is not working, they, in effect are paying her share of household expenses -- if you see what I mean. If she was working she would be paying at least half of those expenses which would allow you to increase your IVA payment by that much and that should be the only amount she should be contributing --- NOT paying any of your IVA payment / debt directly.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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luluj

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Post by luluj » Fri Jul 26, 2019 5:30 pm
First of all...congratulations....

Your wife's income will be used to ensure a proportionate amount of her earnings is used towards the household bill's etc and this will then allow you to pay a slightly higher monthly payment to your creditors.

It is a standard approach in an iva for the other parties income to be taken into account.

Is there any reason why she can't get a full time job? Any restrictions on her passport?
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barassic

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Post by barassic » Fri Jul 26, 2019 6:30 pm
Hi , I had the same modification on my IVA. Think the wording was more like my other half needed to “seek” employment. They did not find any employment during my IVA. All I had to do to satisfy modification was send proof of jobs applied for or rejection letters etc.

Badboy1977

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Post by Badboy1977 » Fri Jul 26, 2019 7:23 pm
Hi I just completed my Iva creditor meeting and they put in a modification that wife needs to get a full time job.

My wife came to England in December 2018 and has only been with me for 8 months and I thought this debt was mine.

How evasive will they be on my annual review with my wife finances when she finds employment.

I owe 52000 and will have to pay £311 month and they have already took into consideration for her staying with me into my costings.

If she earned £1000 take home how much would she have to pay towards my debts?

Foggy

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Post by Foggy » Fri Jul 26, 2019 7:49 pm
Topics merged to avoid duplication.
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

Badboy1977

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Post by Badboy1977 » Fri Jul 26, 2019 9:00 pm
Fri Jul 26, 2019 7:23 pmBadboy1977 wrote:
Hi I just completed my Iva creditor meeting and they put in a modification that wife needs to get a full time job.

My wife came to England in December 2018 and has only been with me for 8 months and I thought this debt was mine.

How evasive will they be on my annual review with my wife finances when she finds employment.

I owe 52000 and will have to pay £311 month and they have already took into consideration for her staying with me into my costings.

If she earned £1000 take home how much would she have to pay towards my debts?
Thank you for the replies

I will reword my question how much would I have to repay more for my debts nobody will give me a clear answer.

Also I have read elsewhere that my wife is not legally obligated to show her finances is this true and how evasive can they be?

Foggy

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Post by Foggy » Sat Jul 27, 2019 7:52 am
Without you responding further to our questions there is little we can add. As I said before -- it is likely that what they want is for her to be paying her share of the household expenses, which frees up more of your income to pay the IVA. Currently it would be your creditors who would, in effect, be paying her share.

Legally she need not divulge her own finances, in which case creditors assume that she is paying half of the expenses. But, without a willingness to compromise the creditors can simply say "Go whistle!"

As I see it they have three choices: 1) Carry on as per your proposal and the creditors cover her share of the expenses. 2) Do as they have suggested and they support her share until she can pay her way. Or 3) Reject the IVA out of hand.
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

Foggy

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Post by Foggy » Sat Jul 27, 2019 7:56 am
"I will reword my question how much would I have to repay more for my debts nobody will give me a clear answer."

There is no clear answer that we can give! I imagine your IVA payment would increase by her share of the debts, which would be determined by how much her future salary is compared to yours. If she earns more than you, her share will be more than half. If she earns the same as you, her share will be half and, if she earns less than you, her share will be less than half.

How invasive can they be ?? I would think they will just need to see payslips to determine her income.
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

Lisa Thomas

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Post by Lisa Thomas » Mon Jul 29, 2019 8:35 am
What is the exact wording of the modification?
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Badboy1977

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Post by Badboy1977 » Tue Jul 30, 2019 12:25 pm
1) The Debtors partner must obtain full time employment as soon as possible and a full review of the debtor’s income and expenditure must be undertaken by the supervisor. The contributions shall increase after taking into account any increased costs in respect of travel and should commence in the month following the review.

I just had this sent through so only just had the chance to post.

Lisa Thomas

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Post by Lisa Thomas » Tue Jul 30, 2019 12:29 pm
Do you need their vote for the IVA to go through?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Foggy

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Post by Foggy » Tue Jul 30, 2019 12:36 pm
Tue Jul 30, 2019 12:25 pmBadboy1977 wrote:
1) The Debtors partner must obtain full time employment as soon as possible and a full review of the debtor’s income and expenditure must be undertaken by the supervisor. The contributions shall increase after taking into account any increased costs in respect of travel and should commence in the month following the review.

I just had this sent through so only just had the chance to post.
That is too woolly --- it needs to define the exact amount by which the contributions would increase to clarify whether the increase is measured by the partner's contribution to household expenses, or by the overall increase in household income (which would mean, in effect, that she would be paying your debt ! ).
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

Badboy1977

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Post by Badboy1977 » Tue Jul 30, 2019 2:10 pm
Yes I need there vote CF have said that if I write a letter to them stating that my wife can only speak basic English and it makes it more difficult to find a job that this will hold them off but again if she never finds a job and you show she proactively looking will this count?
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