Advice needed re: Fiancee's IVA

Sminty

Hi all,

Am looking for advice re: Fiancee's IVA if anyone can help.

She is part way through her IVA which ends in Feb / Mar 2015. We're looking at getting married in 2014, but are unsure as to what this means in terms of the IVA?

She had entered the IVA before we met and we don't live together at present so my income included isn't part of the IVA household income.

Specific questions we have are:-

If we marry before the IVA ends and live together we assume my income will be included in the IVA household income?

Will they have any call on any savings / investments I have prior to marriage?

If we received cash gifts for wedding gifts would this be taken by the IVA (all, part, none)?

Is there anything else I've not considered e.g. any affect on my credit rating, joint bank accounts, anything else?

Hope it doesn't seem like I'm concentrating on the financials too much, but I'm not familiar with the implications of an IVA.

Any advice you can give will be greatly appreciated

smartiedriver_2

Hi,

I don't know about implications re wedding gifts etc, but certainly if you open joint accounts her poor credit can have an impact on your credit rating - if the banks would even allow joint current accounts (other than basic accounts, that is).

However, if you are getting married in 2014 and her IVA ends in 2015, then her final IVA review will be Feb/Mar 2014. Unless you are getting married in the January, she will technically be single when her final annual review is undertaken and so your income/savings/accounts do not need to be declared.

You would also be unlikely to be able to add her to your current account (if you so wished) because a credit search would still be undertaken.