I have been in my iva for 7 months now and its going so so, since i started my iva in my name and the debt was mine my wife has started her own business earning about £60 a week its registered with the tax office but its and all cash business, would i have to tell my IP about this money on my review by law?
Also i've been looking through my proposal and chairmans report and can't find anything about overtime being split 50-50 is thi an automatic attachment that is in every IVA?
Inform your IP of your wife's income but at the same time ask for a fresh income and expenditure form to complete.It could be that you have had some increased expenses and this will offset some of her income. She should be able to retain her share of your joint disposable income
Thankyou for the reply i have looked at your post Lincoln Guy, and to ask a stupid question where abouts in my proposal and chairmans report would the clause that you have be? I,ve looked at mind and there is nothing like that either.
As to regards about my wife's income its not because I don't want to pay the debt (I've paid nearly £1500 extra in 7 months) but the olny way we could afford the IVA was to go on interest only mortgage, and I'd like to start paying some of that off otherwise in 5 years I won't be able to move mortgages because of IVA and won't be able to afford repayment with what is left to pay over 12 years left on lifetime of mortgage