My monthly wage includes an almost-guaranteed bonus, and without this it would be impossible to meet the monthly outgoings. There is a clause in my IVA that 50% of my bonuses should be paid to the IVA company- however my bonus is essential to meet my financial obligations. Where do I stand? I have not spoken to my IP about this as I am terrified of putting my partner through stress, and terrified that taking on her pets and bills will make my IVA invalid- but I have no choice. My disposable income after everything is paid (including my £100 IVA payment) is about £20-£30.
I have now taken on my partners' bills too as she is unemployed due to ill health, and has not made enough national insurance contributions to be entitled to SSP or JSA. Will they take into consideration these extra costs? Am I allowed to support another person while in an IVA?
Was the bonus taken into account as part of your basic wage, when your IVA was originally proposed, and don't you have the 10% benchmark before the 50/50 split gets taken into account?
You can do a review at any stage so it may be worth speaking to your IP now and getting it resolved rather than waiting until the annual review. If a variation is required this should be straightforward enough but hopefully your IP can just carry out the review and advise of the payments going forward.
Would it be acceptable that I look after my partner? And would it be acceptable that even with my increase in wages, I am only able to meet the original agreed payment because of looking after my partner and higher petrol costs etc?
Absolutely. If your partner had earned money and contributed towards the household expenses, creditors would expect an uplift so it works the other way too.
Under the IVA Protocol - assuming that your case complies with this - you are obliged to pay in the additional funds from extra earnings within 14 days of receipt. So I would take a look at that now if I were you, and seek advice from your IP if you are unsure how to calculate what - if anything - is due.
