I would, with some caveats, have to agree with that.
Having made reference to guidelines that state the client is not obliged to offer disability payments as part of a repayment scheme, I could point to others which state that creditors should not expect them either.
However the use of these benefits is discretionary and it could be argued that the if the client felt their quality of life was being improved by making some repayment to creditors then this was a legitimate use of the benefit.
Also, if an arrangement is to be proposed, and creditors are made aware of their position, this could be helpful in obtaining a very good deal for the client.
Following the recent meeting of the IVA Protocol Compliant Standing Committee meeeting the other week the position of benefits to fund a protocol compliant IVA is being reviewed by the Technical Sub-Committee - watch this space.
Last edited by David Mond on Mon Feb 02, 2009 6:26 pm, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
But in the meantime, there is no problem in presenting them as non-protocol compliant. For my proposals that just means changing two sentences in the proposal.
