Daughter going to University

[Dee]

I am looking into IVA's. I have a query councerning my daughter. She will start University in September so obviously all the income I get for her ie maintenance, child benefit, tax credits will cease but as she wont be working I cant expect her to pay board. She will however be getting a student loan to pay for her tuition fees and have a part time job to pay for her clothes and social life etc. How is this looked upon. I will need to include her when calculating food, electricity etc as she isn't going away. She may be entitled to a small grant do I have to take the whole of this from her for the IVA? I dont want to discourage her from going to University as she has worked very hard but I am scared that if my financial difficulties effect her standard of living she will give up her dream of being the first member of our family to go to University and get full time job.

[Adam Davies]

Hi
If your daughter is not working then she will not be expected to pay board and keep.
Your IVA will be proposed with your income and expenditure details only[do you have a partner ?]
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

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

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

[Dee]

Thanks Andy

Yes I have a partner and we also have 2 children together aged 7 & 8. The IVA would be a joint one. When you say only our expenditure details would be proposed does that mean I wont be allowed anything (money) to feed my daughter?

Kind Regards
Dee

[MelanieGiles]

No - you will be allowed to include her housekeeping, clothing and utility costs, but it would be sensible for her to get a part-time job to help pay for her tuition fees and thus try and not rely upon the student loan too much.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Dee]

Thanks for your advice. I am very proud of my daughter and would hate to think that any mistakes I have made with my finances would jepodise her future.

Kind Regards
Dee

PS is there a list anywhere of the expenditures that are allowable on an IVA ie hair cuts, pet costs, birthdays etc.

[MelanieGiles]

Most creditors use the CCCS guidelines ** - Andy has posted them somewhere on the forum, but I don't know where. He ought to be around later to help with this.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:

http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

** http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=7238
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