Partner's house/salary at risk?

Hi there
My partner has an IVA and has never mentioned that he has a partner (and now a baby!). I own the house we live in and work - is my house and salary at risk of them asking for more money?

Comments

  • In short "NO" IVA's are specific to individuals hence "Individual Voluntary Arrangement" therefore your partners IVA applies to them and them alone their creditors have no hold on your house or your finances.
  • shelene
    shelene Posts: 138 Forumite
    Hi , my partners salary is taken in to account with my iva as we live and are married as they ask for household income, and his is taken into account for my payments - sorry i know thats conflicting with the last post :(
  • Not quite sure what you mean? Your IVA's will be specific to you as an individual but if they were set up together then yes they will be linked by which i mean your house will feature in each IVA and your disposable money will be worked out over both IVA's so each of you has an amount of disposable income per month after household expenditure(more than likely to be different amounts) this is added together equalling your monthly payment so you are actually paying 2 IVA's i.e. Your's and your Partner's.
    Are you asking what happen's if your partner's IVA fails yet you can still maintain your's?
    I'm not quite sure what you are asking? Is your partner unable to meet the payments maybe through redundancy etc? Are you considering seperating and hence the enquiry re the house etc? Did you meet your partner after you both already had IVA's? If not why does his IVA not acknowledge his status as a married man with a wife and child to support? Sorry for all the questions just a bit confused about your circumstances don't want to be nosey just the answers will probably affect the advise that you get if you see what i mean.
    I am no expert but if i can help i will be happy to.
    Regards
  • Hi there

    Sorry - probably wasn't very clear. I don't have an IVA, he does. There's no issue of us separating or anything it's just I wonder whether we should 'own up' to being together so they take into account the money he throws into the housekeeping pot every month. He had his IVA before we met and has 2 yrs to go.
    I guess there is an argument for 'if it ain't broke don't fix it'!

    Thanks for your help

    L
  • Dr_Hook
    Dr_Hook Posts: 509 Forumite
    First Anniversary Combo Breaker
    If the original IVA proposal didn't include your income (which it can't have because you hadn't met when he entered into the VA), they can't ask for your income now. Ditto for the property - if he's only contributing to household costs it's not likely that an argument that he has accrued a beneficial interest in your home could be successfully constructed.

    Presumably the IP has your address so that annual reports, etc can be sent to your partner? If not, I suggest that he speaks to his IP - he needs to make sure that he informs them of any change in circumstances. It is unlikely that the IP will want to take your income into account, and even if he does you can flat refuse - you have not benefited from his debts, which were accrued before you met. If anything there's an argument for reducing his IVA contributions as you have a baby on the way which he should be helping to support. Having said that, if you're able to manage with contriutions as they are I'd avoid changing things and just continue as is.

    If you have any doubts, why not give his IP a call and anonymously ask a hypothetical question - "what happens if I'm in an IVA and I move in with someone else?" They should be able to answer in enough detail to put your mind at ease.
    Proud to be dealing with my debts - DFW Nerd #491
  • That's really helpful - thanks
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