Hi, To explain further, the "modest savings" is an amount, a lump sum payment from a company pension scheme that has closed and paid out.
I wish to start an IVA but I do not want to loose this "reserve" at my age of 61.

The "modest" savings are a pension payout from a firm that has closed, does a pension amount have to be declared or should it be moved to a new scheme ?

Hello again, If you have modest savings in a building society would that be effected by doing an IVA ?

If you were a Borough Councillor and were thinking of going down the IVA route would you have to declare it or would you have to cease as a Councillor ?