www.iva.co.uk

Hi,
I'm 4 months into to my IVA and things are tough but going to plan.
I have a couple quick questions. My IVA is on me and not my wife.
I do not have a bank account as such my salary gets paid Into my wife's account and she transfers an amount into a account I have and I withdraw the cash to leave £0 in the account each month and live off the cash for the month. My wife uses the remaining money to pay all the bills.

Question 1, if my wife's family offer to give her some money to help. Do I need to declare that as it's not my account ?

Question 2., I have a company car and get to change it every 3 months. I have a choice in what to have and the price ranges from 130 to 280 per month. Currently, my car is 130 and that was the info given for the IVA. What would the issue be if I was to choose a car for 200 but I could still service the IVA and other bills ?? The car payment is taken from my salary at source as a payment after tax. So the take home pay would reduce by "x" if I chose a more expensive car than the 130 if that makes sense ?

Thanks in advance for the replies. I have found the forum a great source of help and support over th past months. Thanks

If your wife is gifted some money that is your wifes and should not come into it.
Has your IP informed you of what you will need to give at review time - clearly if bank statements are required it is going to be difficult to evidence any expenditure - you may want to retain receipts.

Your iva was based on a car of £130 ... if you then choose a more expensive option and service it from your allowances although I think it would be ok, i would personally wonder if your iva payment has been set too low. To fund an additional £70 per month on a car from your allowances seems alot.You would need to inform your ip and see what their take on this would be.
You start your question with your 4 months in and it's tough .... if it's tough now how can you justify a further £70 on a car each month ? Just my opinion but i would be looking to retain my expenses as low as possible whilst in the iva.

Hi,
Thanks for the reply. I will check what needs to be submitted.
On reflection, I was thinking exactly the same on the car question. Rush of blood to the head......

Thanks

Hi

Any money into her account will not have to be accounted for other than your wages or any other income from yourself

Regards

Thanks for the feedback