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devon80
- Posts: 16
- Joined: Tue Nov 15, 2011 3:39 pm
- Location:
Hi,
My husband and i have a joint IVA. We are now separating but wondered what happens to the IVA. Is it re-assessed now there are 2 lots of household expenditures and each party pays their share or does the original amount agreed at the start of the IVA remain the same and its split 50/50.
We pay £210 a month, is this the minimum sum we have to pay or can it be less considering our split?
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
Hi,
Sorry to hear that you are separating. You'll be able to.have the ivas split so you need to speak to your IP as soon as,possible so that new I&E figures can be sorted for both of you.
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devon80
- Posts: 16
- Joined: Tue Nov 15, 2011 3:39 pm
- Location:
ok. If our expenditure is higher can the amount to pay be lowered slightly?
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
I'm sure it can be sorted but it's something to discuss with your IP. They can lower payments by up to 15% without having to resort back to the creditors
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luluj
Forum Expert
- Posts: 11333
- Joined: Sun Dec 09, 2007 6:54 am
- Location: United Kingdom
Sorry to hear that you separating .....your finances will need to be reviewed by your IP and a new I&E will need to be completed for both of you to establish if the IVA s still able to be funded each month. Your IP will be the best place to offer specific advice for you both.
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