Stopping payments ?

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xxxxx79
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by xxxxx79 » Mon Jan 25, 2010 5:45 pm
Hi. I entered into an IVA in June 2007, in July 2008 I gave up work to become a house husband and look after our 3 young children, since 2008 I have had no income and my wife has been making my payments. Although I know that I'm legally bound by the IVA, is my wife? Does she have to make my payments? What would happen if she decided not to pay it anymore? We live in a Jointly mortgaged house with our 3 children and there is currently no equity in the property. They have reduced my payments from £170 to £102 but also extended the IVA for a further 2 years

 

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kallis3
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by kallis3 » Mon Jan 25, 2010 5:49 pm
Hi, and welcome to the forum.

The IVA is yours, and not your wifes, and if she stopped making the payments it would be you who is liable for it.

Did you inform your IP of your change in circumstances?

 

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MelanieGiles
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by MelanieGiles » Mon Jan 25, 2010 7:42 pm
Were your IVA payments based on a combined family income and expenditure, or simply calculated based on your individual earnings and share of the household expenditure?
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