Wifes additional income

wellard01

Hello All,

It will soon be Christmas:D

I am now nearly 2 years into my IVA and my wife is now 5 years post BR.

The contribution to the household was split 50 / 50 as I earn more than my wife.

She has now been offered a promotion and really wants to take it as it means more training and obviously more pay, however she is adamant that she doesn’t want to pay more into my IVA if anything she wants to pay less as she says she has paid her debts off by going BR and the 3 years in a payment plan.

Will the IVA take into account that she now earns more, which means in effect more income coming into the house or can she refuse to add this to the available amount. We have had so many arguments about this, she thinks she is being continuously punished even though she is out of BR and had nothing to do with my debts and therefore my IVA.

Anondebtadvisor

She is not responsible for paying your debts but your IVA company will want to make sure she is paying her fair share of the household bills

If she earns 60% of the total household income she should pay 60% of the household bills. Your IVA payment may increase a little but due to your wife paying more of the bills

wellard01

Thank you for your reply.

But in effect she is paying my IVA. There is no incentive for her to earn more money and work longer hours if she has to pay more into free more of my income towards the IVA.

She wants to invest in a pension and wants to start a hobby, if all of her additional income goes into the house to free up mine for the IVA she want do it, she is even talking about us living apart as she feels so strong about this.

That or I just give up work and go bankrupt, she feel like she is being punished twice

Aidanb_2

I am sorry to hear about your problem I fully understand this my partner has had her life put on hold because of my iva and really got her down as she was having to wait for a family and a home because of my stupidity when I was younger and getting in to so much debt, I understand your wife's point of view it's your debt and you need to deal with it as that's how I felt about my debt my fault my problem.

Did you help your wife out with the br? If so this might be something to say to help plead your case but ultimately if she is going in to a pension can she not pay more in to that until your iva is paid off this will make her income lower but adding more to the pot for the future.

Also did she benefit from the debt you got yourself in to?

But remind her of the vows you took for better or worse it is only 3 more years then it is all over and you can start afresh but most of all don't give up its only debt it's not worth living apart trust me I would be lost with out my partner.

Hope it all works out

Aidan

techno1029

If the IVA is yours then your wifes earnings should not come into the equation. Okay she will contribute to the household bills but whats to say because she earns more she has to pay more to the bills? You just keep paying what you have and she should be able to earn what she wants!!!!!! Its your IVA not hers!!

dancingfairy

Surely though if she gets more money but contributes to a pension her take home pay won't differ that much?
Say she gets 1000 a month now and she gets a raise to 1100 a month then she can pay the additional 100 a month into her pension (her take home pay would still be 1000 a month?)
I would crunch the numbers and work out how much difference it would actually make. Is it likely to effect the 50:50 split much if at all?
Also if you are adjusting your IVA you would probably want to make sure that your estimates for food and bills etc is correct.
Best of Luck
df

milliemonster

Your wife has no obligation to let your IP know she has got a promotion at work so I don't see the issue? if you say your current figures are not going to change (so the bills continue to be split 50/50) you do not have to divulge any of her financial concerns to your IP moving forward and they can't enforce it, all you have to say at review time is her pay is unchanged therefore her contribution to the household expenditure is unchanged, then she gets to keep her increases

wellard01

Thank to all of the replies.

I have a legal obligation to honestly say how much my wife earns, If I don’t tell them I am breaking the IVA agreement.

boredofbeingathome

Let me put it to you from a wife's point of view. My husband was and still is deep in debt. I have been made to pay time and time again-in order to keep a roof over my head etc. Bearing in mind that i have always been fair in splitting bills/mortgage payment and paying deposit for house. I scrimped and scraped in order to afford basic things-still am. I don't give my husband extra money and i don't pander to him, he is having to stand by his debt and pay the lot off-every single penny. I won't have my future compromised by his mistakes nor my own mistakes-I have learned the hard way.
Your wife has done more than her fair share-if i were her, i would be paying into a pension and providing something for the future. No one else is going to do it. Bills should be split 50/50 and beyond that what is left out of your income goes to paying off IVA. If there are only two of you in a household i don't see why she should pay more.
You seem to be asking permission to get more money out of your wife, she is entitled to pay into a pension and have a bit of a life. Your IVA is your IVA they cannot dictate what your wife pays into a pension regardless of what you inform them. You seem to be opening an unnecessary can of worms.

wellard01

Sorry for the late reply Ive been quite ill and kept away from the PC.

This isnt me this is my IP I feel we should pay 50/50 of all bills, any additional from my wages, goes to the IVA and additional to my wifes should be hers. My IP has tried to convince us that my wife pays 60% I pay 40% and the now the additional 10% of mine goes towards the IVA.

We have said no - awaiting a decision - thanks for the help