My wife is due to recieve a bonus

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1
 
 

Jbucker3

User avatar
Posts: 8
Joined: Sat Jan 29, 2011 12:58 pm
Location:

Post by Jbucker3 » Tue Aug 17, 2010 9:53 pm
My wife is due to recieve a bonus of approx net 1k. My IVA agreement is currently in my name soley and does not include my wife. (Although our IP include her wages as part of our household income when calculating our income / expenditure). My Question is: would I need to declare my wife's bonus as a windfall ? and if so how much of it are they likely to take? Any advice would be appreciated. Many Thanks
 
 

kallis3

User avatar
Forum Expert
Posts: 76065
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Aug 17, 2010 11:17 pm
Hi Jed,

As far as I am aware, your wife's bonus is hers to do with as she likes.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Tue Aug 17, 2010 11:35 pm
You would not need to declare it as a windfall as it is not your money.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Jbucker3

User avatar
Posts: 8
Joined: Sat Jan 29, 2011 12:58 pm
Location:

Post by Jbucker3 » Wed Aug 18, 2010 6:42 pm
Thanks for the responses thats great news and very helpful. Another question if I may. Do you think it is correct for My IP to incorporate my wifes income into our agreement and adjust my payments when she recieves a pay increase?
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9545
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom

Post by plasticdaft » Wed Aug 18, 2010 6:51 pm
You and your wifes income should be used to ensure that a fair proportional split of household expenses is in place. Not sure that if she gets a pay rise it should mean you have more to pay into an IVA though so argue the toss with your IP about it.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

Meash

User avatar
Posts: 76
Joined: Thu Aug 07, 2008 7:57 pm
Location: United Kingdom

Post by Meash » Wed Aug 18, 2010 7:35 pm
when my IVA was agreed, they said they would only need to see proof of hubby's income at the start as the IVA is mine alone.
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”