payments raised from £444 to £1500

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sbkm

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Post by sbkm » Thu Sep 16, 2010 10:23 pm
I have had an individual IVA for about 4 years now (with no defaulted payments) and got married about 2 years ago. At my yearly review my IVA supervisor asked me to include my spouse's income and expenses and based my monthly payments on our total household income. This has raised the payments expected of me dramatically (from £444 to £1500!) however I am aware my spouse is not liable for my individual IVA so I don't understand why my supervisor is adamant that I am now expected to pay this amount which would obviously mean my spouse having to pay the majority.
Can someone please give me some advice on this as I do not want to involve my spouse in my IVA.
 
 

31101932

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Post by 31101932 » Thu Sep 16, 2010 10:32 pm
I think that your IP has looked at total household expenditure and decided that after paying your share you can afford to make the increased payments to the IVA.

It does seem a massive increase, and I am sure that one of the professionals will be able to pass a more expert comment on your situation.
 
 

Lisa2009

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Post by Lisa2009 » Thu Sep 16, 2010 10:43 pm
Speak with your IP and see if they can explain fully where such a massive increace comes in.

It would be expected that your disposable income would increase due to there now being two of you paying into the household but that does seem to be quite an increase
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MelanieGiles

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Post by MelanieGiles » Thu Sep 16, 2010 10:50 pm
Can you confirm your income and your spouse's incomes please.
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bliamba123

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Post by bliamba123 » Fri Sep 17, 2010 11:03 am
hi there, thanks everyone. My monthly income now is £480 after tax and my husband's is 5k. I can afford my current payments as my husband is covering all other household expenses so that I am able to keep up my repayments. But I am shocked to be asked to pay 1500 when I only earn 480. I thought individual IVA was individual, especially since I
 
 

bliamba123

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Post by bliamba123 » Fri Sep 17, 2010 11:20 am
especially since I had entered it prior to even meeting my husband. Many thanks.
 
 

kallis3

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Post by kallis3 » Fri Sep 17, 2010 11:56 am
I know that you are supposed to show that your husband is making his fair share of the household payments but that does seem a big hike, especially as he is not part of your IVA.

Try contacting your IP direct via this link:

http://www.insolvency.gov.uk/fip/
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Michael Peoples

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Post by Michael Peoples » Fri Sep 17, 2010 12:01 pm
This seems crazy as your proposed contributions are three times your earnings! Your husband must have already been effectively paying your IVA and he should not have to pay any more.

Speak to the IP directly.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
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If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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