If it is 50% (400) we will be finished paying back in just over 42 months. which in my opinion seams a little unfair as the IVA has been agreed to payed back over 60 months. which we you consider the HP mentioned above means my partners only needs to add 175 a month ((120+175)*45)+((120+175+300)*15)= 22200.
I understand that I've messed up and got into these debts and its 100% my fault and that i should pay them back and I'm happy for the extra 50% of my own wage got into the IVA but throughout the application I was told the repayments needed to be fair, which for my partner I think 50% is too much when shes not required by the IVA to contribute anything!
Does anyone have any experience with this, that can give me some insight?
Now, I say "normally" because some firms take household income as one lump, in which case the solvent partner does end up paying the debtors debts in part, Payplan being one such firm.
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location