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They are trying to suck me into their web
My fianc! has recently moved in with me into my house (2 months ago).
She is paying into an IVA which she started about 6 months ago before she moved in with me. She has a lot of student debt/flat debt etc. All of the debt was built up before I knew my fianc!.
She contacted her IVA advisor to tell them about her change in circumstances. Now they want to see a record of my income and expenditure commitments.
Firstly do I have to provide this?
Secondly they haven’t asked for any proof so how accurate does it have to be? I don’t want to give them information that they will use to make our lives harder.
I assume that if i were to give them my information that as a couple we would be forced to pay more. I think that this is unfair as all of the debt was accrued prior to my fianc! and me getting together. I never benefitted from any of the cash/loans/credits used to create the debt in the first place so is it fair my income is being used as a measure to see how much the IVA Company can extract?
Also what happens if my fianc! is later forced to default and ends up bankrupt, can they then come after me or will they be able to put a black mark/credit mark or something against my name, as if to say my name/ household has been involved in defaulted debt?
Thanks in advance
She is paying into an IVA which she started about 6 months ago before she moved in with me. She has a lot of student debt/flat debt etc. All of the debt was built up before I knew my fianc!.
She contacted her IVA advisor to tell them about her change in circumstances. Now they want to see a record of my income and expenditure commitments.
Firstly do I have to provide this?
Secondly they haven’t asked for any proof so how accurate does it have to be? I don’t want to give them information that they will use to make our lives harder.
I assume that if i were to give them my information that as a couple we would be forced to pay more. I think that this is unfair as all of the debt was accrued prior to my fianc! and me getting together. I never benefitted from any of the cash/loans/credits used to create the debt in the first place so is it fair my income is being used as a measure to see how much the IVA Company can extract?
Also what happens if my fianc! is later forced to default and ends up bankrupt, can they then come after me or will they be able to put a black mark/credit mark or something against my name, as if to say my name/ household has been involved in defaulted debt?
Thanks in advance
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Comments
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It maybe to ensure the household expenses are divided equally? ie you earn 3k a month she earns 1k... therefore they may want to argue that you should (in proportion) pay 3 x as much as her towards the household expenses?
I remember something simular with my SIL when she moved in with by brother. They asked for all his details, his income was not used to pay any of her iva but to ensure they were contributing dependant upon income?
I will check with him what the outcome was. It was a while ago now and cant remember what happened in the end but they fought their requests for ages to get a resolution0 -
Briansdaughter is likely to be right; they will look at the proportionate amount she should be paying towards household expenditure.
It is possible they may determine she should be in a position to pay more if, say, before she had all her own rent/bills etc to pay, and now there is a second income paying some of that and she may have moer disposable income.
It is also possible that if she lived rent free at her parents, that now she contributes to household expenditure she has to pay less towards the IVA. You wont know until the form is assessed.
I had an IVA and yes, I did have to put my OH's information on the I&E form. At no time did they pursue him for any of 'his' money, nor indeed his pay increases. Only mine. The mortgage is also in his sole name so they were unable to force me to try to release equity.
There is no impact on your credit file unless you have any joint products (like bank accounts or loans). Why do you assume they are going to force her to default?LBM July 2006. Debt free 01 Sept 12 .. :T
Finally joined Slimming World: weight loss 33lbs...target achieved 51wks later 06.05.13 & still there :j
Aim to be mortgage free in 2022. Jan 17 33250 Nov 17 27066 Mar 18 24498 Sep 18 20608 Nov 18 19250 Jan 19 17980 Mar 19 16455 May 19 15024 Nov 19 10488 Feb 20 8150 May 20 5783 Aug 20. 3305 Nov 20 859 Mortgage free, 02.12.20200 -
As has been said above, the IVA company will want to see that you are paying a fair share of the household bills, although they cannot make you provide evidence of your earnings.
If you do not provide wage slips etc, they will assume a 50% 50% split of household bills and expenses, which may increase your girlfriends payments into her IVA.0
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