www.iva.co.uk

Hi

I am entering into a personal IVA in my name only, I know under the terms of the IVA any windfalls, bonuses overtime Etc is supposed to go into the IVA, However as this is personal to me how does it effect anything extra my wife may get such as pay rises Overtime windfalls etc? Also I know they have taken her income into account whne working out my payments but if she want to change her car etc does this also Have to go through the IP?

Your wife is free to spend her money as she wishes.

Welshman2805 -welcome to the forum, Just checking as you are entering a single IVA - all the joint debt, the creditors will come after your wife for the full amount under joint liability.

I am sure you will be aware of this ![:)]

Hi Ginger3232
Thanks for the response, all of the IVA debt is in name only. there is no Joint Debt under it. The only joint debt we have is the Mortgage. Things Like mobile phones etc were in her own name as is her credit card and bank accounts etc.

ginger3232 wrote:

Welshman2805 -welcome to the forum, Just checking as you are entering a single IVA - all the joint debt, the creditors will come after your wife for the full amount under joint liability.

I am sure you will be aware of this ![:)]

Nothing to add other than to welcome you to the forum.

Paul

Changes in your wife's income could affect your payments moving forward if the percentage of her earnings compared to the total earnings differs greatly. In my experience this rarely results in major changes unless she gets a great big payrise.