Separating an interlocking IVA

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Stephend0890
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by Stephend0890 » Tue Aug 07, 2018 5:00 pm
In a interlocking Iva past 2 years with my partner..same I@e two separate Iva..I'm thinking of leaving and getting my own place. We have two children what is a acceptable child maintenance payment to her in a Iva..my thoughts are we would be better off as she works part time would get benefits has the two kids.. I've looked up my allowance as single person housesharing and financial looks alot better and also be able to pay more money into my Iva...anyone have thoughts if this a good thing to do, would this cause major problems with the Iva as they are now...thanks
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Foggy
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by Foggy » Tue Aug 07, 2018 5:22 pm
Your relationship and your IVA are not things to be measured against each other. Are you separating purely to ease your finances (which will not be the end result) or is the relationship truly in trouble ?

Between the two of you your outgoings will increase considerably and, if the mother of your children is forced to rely on benefits, her IVA could fail .. throwing her back into debt.

My marriage went south during our interlocking IVA's and, after doing a realistic new I&E each, both IVA's were not sustainable --- the reality of running two households does not stack up against a paper calculation.
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Stephend0890
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by Stephend0890 » Tue Aug 07, 2018 6:04 pm
understand, how I see it, my side looking at it would be rent payment inclusive and child maintenance payment to my partner, then the usual allowances..I can see a very good surplus payment to my Iva.

Partner works part time school hrs..in theory she should get working tax payments there currently £10 a week child tax credits...she should be able to get more two kids, rent rebate?... Think is thou it's not knowing what income she will get should I leave regards benefits, we know wage and child maintenance should £300 month as advised government site two kids...it's tough call.. We are under strain and I'm just looking at options myself at this moment..
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Stephend0890
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by Stephend0890 » Tue Aug 07, 2018 6:06 pm
Just read that back I mean myself for ideas but what's the best interest outcome for both of us...
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Foggy
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by Foggy » Tue Aug 07, 2018 6:34 pm
I don't know any of the specifics, but, gut feeling looking back at your history in your IVA's .... you are not settling down to life in an IVA very well and seem to be fighting the arrangement rather than making the best of it. You need to stop trying to work the system and start living with it. The stresses you are putting on yourself are destructive.

Life in an IVA is by no means easy, but, when you roll with it, it is doable and far better than the life before, with all the previouis stress of dodging debt.

Your kids will not come out of a separation unscathed either.

You are nearly half way through ... I would say, sit down, examine the budget and live within it. Get the IVA done and dusted .... you will only benefit if you learn the lesson, which you are fighting doing at the moment.
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