It would definitely be worth discussing this with your IP and having provision for your wife's return to work built into the proposal. The fewer surprises the better! x
This depends on whether your partner is in the IVA or not. If she is included she can offer a percentage of the net benefit of her income or creditors can ask for some but if she has no part of the IVA she has no obligation to it. She would need to pay something towards the running costs of the house but she can do whatever she wants with the rest.
she would not be part of the IVA. So I guess the big question is what that 'something' might be. SInce any earned income wouldn't come anywhere near 50% of the household expenses, would it be expected that all of her income goes towards the household thereby reducing my obligations and increasing my DI for payment into IVA? OR would a reasonable contribution be acceptable within standard IVA terms? A realistic example could be, household expenses - £1000, paid by me, partner could get part time job which gives her £200/month after childcare costs. what would your thoughts be on this kind of stiuation?
Personally I would apportion the money out. If for example her £200 was 10% of the total household income I would expect her to pay 10% of the household bills. The remainder of the income would be hers. However, bear in mind that child benefit is her income so would form prt of the equation when calculating percentages but ultimately I would not expect your partner to work for nothing.
Do a basic I&E and calculate the surplus income. Then calculate what percentage of the total household income she has and therefore she should have the same percentage of the surplus. Therefore if the overall surplus is £600 and she has 20% of the income she would keep £120 and your IVA payment would be £480.
That would be fair but it would be down to your own IP.
Spoke to my IVA company and they confirmed that 50% of my partner's extra pay is required. So the maximum will be £50 a month. Having said that, with the increases in fuel etc it may not even be that much.
My situation is very similar, my partner has not had a pay rise yet but is due one in the next few momths.
As michael has said ours was calculated on joint total income. The total household expenditure was then divided on a percentage basis i.e 70% of household income = 70% of household expenditure.
50% of your partners pay rise definately does not sound right, it should surely be calculated as above ??
Maybe I see things too simply, but I don't have an issue with this. My partner benefitted from my debt so I understand why they have to make a contribution towards it throughout the period of the IVA. If the situation was reversed and the non IVA partner’s income was reduced to a level where I could not maintain the monthly IVA payment, I would then be asking for a reduction in my payments and the opinion that a partner’s income should not be used to calculate payments wouldn’t go down too well then.
Sensible view Pennykins! As long as you are both happy that is all that counts.
In some ivas the solvent partner's income is only included for apportioning expenditure and in others it is included fully to offer DI to creditors. There are couples who are happy with this as debts were spent jointly but only in one partner's name.
Still not sure that is right .... Your partners income is there's surely ... The only part of it in your UVA surely is the %towards the household bills etc ... I would keep questioning and seek a second opinion from your company !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
If the solvent partner has had nothing to do with the debts then they should not be made to hand over any of their money. They just need to prove how much they pay towards household expenses.
If they have benefited then I don't see why they shouldn't help out.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Quite hard to work out how much a solvent partner has gained from the insolvents partners debts. If the solvent partner was to kick up a stink I dont know how an ip could force them to increase what they pay towards running house costs.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
The way I look at is that you may have taken up with the solvent partner after you got into debt and they have nothing to do with it at all. If that was the case, I certainly wouldn't want to be made to pay anything towards it other than my share of household bills.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
