Am i under any legal obligation

[n_l]

My partner has been in an iva for three years and the company are now asking to see my payslips and bank statments as part of his review. Am i under any legal obligation to provide this, and if i dont what can they do? Also he has £20,000 in a pension, is there a way he can cash this in to pay the iva off early.

[MelanieGiles]

Hi nl and welcome to the forum

There is no legal obligation to provide this information, but in the spirit of co-operation I suggest that you do. The IP needs this information to verify that your partner is paying his fair share towards combined household expenditure, and it is usual to calculate this on the same basis as earnings.

His pension is completely safe from creditors, and this would also be the case if were to be adjudged bankrupt.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

Appoint me as your IP:
http://www.melaniegiles.com/ivaEnquiry.asp

[Cybus]

Is your income forming a part of his IVA? Was it detailed in his original proposal?
If it was, then I believe the Supervisor is within their rights to request that information from you and you would have to provide it. If you don't provide it and you are required to, then the arrangement could be defaulted.

I think your partner's age and the type of pension would determine whether the pension can be utilised to offer a full and final settlement. If he is 50, he may be entitled to take a tax free lump sum from the pension, 25% of it's value.

He is going to have to make enquiries on the availability of pension funds



Tell it like it is.