www.iva.co.uk

My partner is 2 years into an IVA and has just decided to move in with me. He has recently received his Annual Review forms to advise them of his income/expenditure etc, and we could do with some advice on how to complete this, and what the implications are for me.

I have a house with a small amount of equity and we are both concerned as to whether any of this will now be taken into account (his debts were run up before we met.) He has already sold his house and so lost his own equity which went into the IVA arrangement.

As I have children he has always been happy to have no claim on my house should we split up, and has suggested a solicitors agreement - a sort of prenuptial arrangement (even though we have no intentions of marrying) just to make this clear. Would this be of any benefit?

Is any of my equity in jeopardy at any stage during my boyfriend's IVA? As stated, I had no part in his debts and he was considering his IVA long before we met.

Thanks in advance.

Your equity in your property is not going to be affected by the fact that your partner has an IVA, however his expenditure may have changed as a result of you now sharing the bills. How are you going to charge him for living in your property, or are you just going to pool both salaries and pay the bills out of combined funds?

Thanks Melanie for your reply.

I suppose we decided that we would just pool our money and share bills etc without even thinking about it.

But your idea of him paying rent and a share of bills has got us thinking. This seems the less messy way as its easier to define his income and expenditure without mine coming into it. We want to pay what is fair and due but obviously dont want to throw our money away, but we dont want to do anything which could then backfire and get us in trouble. I have told tax credits we are living as a couple. If we told the IVA people he is living as a couple and now has dependants but is paying rent would this seem feasable?? Do people live this way?? Im just worried that if we say he is a lodger I dont want someone parked outside spying on us!!

I think that you have to work out which is the best way to deal with this. If you consider yourselves to be living as a couple, then it is probably better to convey this to your IP, but make sure that you adjust your shares of the household expenditure in proportion to your individual contributions.