Search found 10 matches

Search found 10 matches Page 1 of 1
by DroneOn
Mon Mar 12, 2018 10:38 pm
Forum: Ask IVA Forum and Industry experts
Topic: Partner's limited company
Replies: 5
Views: 3929
I'm not sure they are already business partners Foggy? In another thread the OP is exploring ways of supporting the partner in his previous business, without being financially involved although they have worked together in this enterprise for some time. Thanks Foggy, but actually, this is a complet...
by DroneOn
Mon Mar 12, 2018 10:16 pm
Forum: Ask IVA Forum and Industry experts
Topic: Can I help my wife in business without claiming share in profit?
Replies: 8
Views: 4472
Any other thoughts would be most appreciated If you are making a profit from the business then it IS worth something and this looks as if you want to put it in your wife's name, continue working at it and have those profits go to her instead of your creditors. I see your point but without my low le...
by DroneOn
Sun Mar 11, 2018 11:28 pm
Forum: Ask IVA Forum and Industry experts
Topic: Partner's limited company
Replies: 5
Views: 3929
I'm a year into my IVA and my partner wants to start doing some additional work on the side of her full time job. I'm not going to sugar coat it - we want to shield this additional income from my income and expenditure reviews so that our child has a nest egg. I know that she is well within her righ...
by DroneOn
Fri Mar 09, 2018 12:31 pm
Forum: Ask IVA Forum and Industry experts
Topic: Can I help my wife in business without claiming share in profit?
Replies: 8
Views: 4472
Thanks for the response. No the business is not worth anything; it's simply me helping clients out. My wife has been helping me out (for free) for many years and so can pick up the day to day work without any issues. My concern is that my IP or creditors might think I am shielding income from them b...
by DroneOn
Fri Mar 09, 2018 4:32 am
Forum: Ask IVA Forum and Industry experts
Topic: Can I help my wife in business without claiming share in profit?
Replies: 8
Views: 4472
I am about to enter an IVA. I'm employed full time and also self employed as a sole trader. The intention was to cease all self employed freelance work once the IVA started, because I really only did the work to cover my debts. I already work 60+ hours a week and the extra work stresses me and I...
by DroneOn
Fri Feb 16, 2018 9:53 pm
Forum: Ask IVA Forum and Industry experts
Topic: Partner's income
Replies: 3
Views: 3051
1 --- she is not obliged to disclose anything at all -- unless you are with Payplan, they will insist. They only need her income to calculate the fair share od household expenses between you ---- with no info they will assume a 50/50 split. 2 --- just short pay for a couple of months -- you will ge...
by DroneOn
Fri Feb 16, 2018 5:02 pm
Forum: Ask IVA Forum and Industry experts
Topic: Partner's income
Replies: 3
Views: 3051
I'm moving closer to an IVA - I'm in the process of gathering evidence for my IP. I have a couple of fresh questions, if you guys can be on any help: 1. My partner has agreed to disclose her PAYE income for the purposes of the IVA (the debts are solely in my name). But she also has a small income fr...
by DroneOn
Tue Oct 24, 2017 2:29 pm
Forum: Ask IVA Forum and Industry experts
Topic: Will current circumstances and prior earnings be taken into account ?
Replies: 4
Views: 233
Thanks very much for your input. I have another question. Our mortgage deal is up for renewal in June, so I'd like to be able to keep struggling on and try to get a new deal secured before any of this plays out. During that time, any sole trader work I take on... should I use these chunks of money t...
by DroneOn
Tue Oct 24, 2017 1:42 pm
Forum: Ask IVA Forum and Industry experts
Topic: Will current circumstances and prior earnings be taken into account ?
Replies: 4
Views: 233
Hi. I'm seriously considering pursuing an IVA and I have a few questions. I am married, with a joint mortgage and a reasonable amount of equity in the house. All of the debt is in my name. I earn quite a bit more than my wife and pay quite a bit more in terms of expenses. We have just had a baby...
Search found 10 matches Page 1 of 1