IVA Review question

sillysausage1977

Hi,

My husband is in an IVA and we have just received the paperwork ready to do the annual review.

When he first took the IVA out last year he was only earning on average £600 per month and my wages were being taken into account in order to pay for everything.

He has since got a new job earning a lot more, will they still take all my wages into account as we are married and living together or can they do it that it is just based on my husbands wage now?

Hope that makes sense!!

Thanks.

SS

balmk

Hello, it really depends on the terms of your agreement; if it was a condition of acceptance that your wages be taken into account then the creditors may wish for this to continue.

As a rule of thumb, it is always best to be proactive about any changes and advise your IP when they happen, rather than wait for the review.

I would suggest doing a prospective Income and Expenditure and look at the differences in disposable income between now and when the proposal was agreed. If it transpires that, by taking your wages out of the equation, the disposable income level remains the same as it was, you may be able to argue for them to look only at your husbands wages from now on.

Hope that helps.