BR Update I & E

[Dominic]

i know whats worse than Value coffee tescos value baked beans....

[mish1953]

Hi
I didnt 'do' and IVA - I was paying all my debts and living on very very little, until it reached the point of being daft - so I went BR

Im in an IVA for 3 years, which means that Im paying my surplus income divided by 2 for the next 3 years to the OR .. so this budget in theory lasts for 3 years -- but in practise it will vary sue to pay rises etc.. also when I lose my house .
I should notify any changes in income to the OR until the the end of the 3 years .. usually they leave it at the same rate once Im discharged - hopefully after 1 months.

Tesco's beans can be livened up , with a bit of tomato puree and some chilli !

Tesco's coffes can be livened up by using 3 parts whisky to one part coffee --

[Adam Davies]

Hi
Melanie quote "Yes Debbie - I feel that expenditure allowances on the whole are more generous under bankruptcy proceedings than in IVAs"
I agree and think that the insolvency service need to take another look at IVAs
My thoughts are
1]A figure of less than 100% for disposible incomes[Bankrupts pay a max of 70%]
2]The property dealt with within the first twelve months of an IVA[A figure agreed at the start of the IVA to be released at the end of the IVA,similar to the Scottish trust deed]
3]An IP to have similar powers that an OR does in bankruptcy[so no need for variation meetings]

I guess I could go on and on
Regards
Andy
Ps I have said it before and I,ll say it again,bankruptcy is the hardest thing that a person can do and I admire all on this forum that have been through it.


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Skippy]

I totally agree with you Andy. I couldn't have survived on my IVA for 5 years, and was unable to have a variation due to the 'no variations in 24 months' modification. Whilst I am not exactly wealthy in BR I am reasonably comfortable. It would make sense to only pay a percentage into an IVA, as 5 years is a long time to have no treats and no social life.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/