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Posted: Fri Apr 22, 2016 9:58 pm
by Tonyd73 83
I am probably needing to enter an iva but I pay some of the household bills and partner pays others, how does this work to enter an iva (for example I pay for car payments, childcare, council tax, and electric and other half pays rent), but only me entering iva

Posted: Fri Apr 22, 2016 10:04 pm
by kallis3
Hi and welcome,

Which company are you looking at - give Andy Davie/Vincent Bond a ring for some free advice (details under the expert link on the left hand side)

Posted: Sat Apr 23, 2016 8:41 am
by relieved33
Bills are usually totalled and pais in ratio to earning e.g. you earn twice as much as partner, you pay 2/3 of bills. You need to be careful as some companies take household income and calculate household disposable income. Give a few companies a call to see what they say.

Posted: Sat Apr 23, 2016 8:45 am
by kallis3
Some companies use the whole of the household income to calculate payments regardless of who is going into the IVA.

Posted: Sat Apr 23, 2016 10:03 am
by Foggy
As Relieved said, expenses are usually totalled and apportioned according to the relative earnings share.

A few companies use household income to calculate the disposable income (IVA payment), which results in the non-IVA spouse contributing to the payment.