Partners income in Iva / BR

[hatesdebt]

Hi all,

 

Just some clarification if you can.

 

When going br or entering into an iva, your partners income amount is always asked for.

 

1. Do you HAVE to send copy wageslips to prove the income amount?

2. What happens if you refuse to supply the information in either case?

3. What happens if you are happy to state thier income amount, but not send copies of wageslips?

 

Thanks in advance......:grin:

[mcuth]

When going br or entering into an iva, your partners income amount is always asked for.

 

Can only speak with experience of BR, but OH's income figure wasn't required. I did the deed in October and the only requirement relating to my g/f's finances was to put her contribution to household expenses on the form.

 

1. Do you HAVE to send copy wageslips to prove the income amount?

2. What happens if you refuse to supply the information in either case?

3. What happens if you are happy to state thier income amount, but not send copies of wageslips?

 

No proof's been asked of me for the contribution figure, but it's always better to be completely open & honest with the OR - if you're found out afterwards, there can be serious consequences...

 

Cheers

Michael

[hatesdebt]

Thanks for the info Mike...

 

Any other info is gratefully recieved......

[loobyloo85]

1. Do you HAVE to send copy wageslips to prove the income amount?

2. What happens if you refuse to supply the information in either case?

3. What happens if you are happy to state thier income amount, but not send copies of wageslips?

 

1. Generally, the IVA company will ask for proof of your partner's income to help with putting the income and expenditure together for your IVA proposals. This just helps to make your IVA payment more accurate.

However, in the nominees report, it does state that the IP has had sight of the debtors earnings, but doesnt say anywhere about partners earnings, so it does not matter greatly if you cannot provide proof of partner's income. As long as you give an accurate figure prior to your proposals beingdrawn up.

 

2.If you refuse to give information, if it is partners earnings, you will probably be asked for a figure over the phone or something. However, if you are refusing to send in proof of your earnings, or anything else required for the insolvency practitioners, it may mean you cannotproceed with an IVA because of this. Generally the IVA company will try to help get around the fact that you cannot provide the information, and will get it from other sources, or over the phone from you.

 

3.As above

 

Hope this helps x

[debtinfo]

In a bankruptcy if they ask and you refuse to give info about your partners income, then they will just half the household outgoings and only allow half to be counted when working out your surplus for the IPA