What happens when a child becomes 18, still living at home and is working - do you work on the basis that the adult allowance is claimed for but you also get housekeeping from the child and then pass to the IVA company?
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
This boils down to individual IP's and how they approach this. Logically the difference between what the creditors believe the child should be to keep and the board he or she pays would go toward disposable income. Then you get the arguements over what is considered a reasonable amount to charge an adult child for keep.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Plus its subjective - they are moving from being on an apprenticeship scheme to potentially earning at minimum wage.
Most of their money will need to go in transport costs to keep them in work based on where we live.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Logically, you lose child benefit, and possibly tax credit income, but also will lose a child from expenditure allowance guidelines. You MAY get some board or keep I suppose (good luck with that is what I would say), but largely the effect is neutral.
I have seen some, on other forums I hasten to add, advocate that the loss of benefits is declared immediately, whilst the board money received is paid over in cash, effectively hiding a source of income. Whilst I understand the human logic in that, as grown up kids can be just as expensive as little ones (take it from someone who knows) especially if any employment gained is poorly paid, but I couldn't recommend that personally.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
We lost child allowance and maintenance when they became an apprentice simply because no-one told us that if the apprenticeship was advertised via Connexions it was regarded as government endorsed and you could then keep both.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
My son left school after A Levels, increased his hours at his part time job at KFC. He contributed £100 a month board, but luckily could walk to work. I lost the single persons discount on council tax, and child benefit....
PJG were happy with my new figures, but then my son went in the forces, so all my allowances are now set as a single adult....be interesting how Creditfix view those at my review in June!
It's nice to be important, but more important to be nice!
I would agree with Size 5. I have 2 daughters who both turn 18 and probably still be in full time education, however to their credit they do have part time jobs which whilst payed around the minimum wage gives them the freedom and confidence to manage their finances independently. Bank of Mum and Dad still comes into play now and again where possible, but any decent IP would accept this unless their siblings where in full time employment and shown to be making a marked contribution to household budgets
