I am doing my first annual review, but my outgoings gone up. I have been sending remittances/allowances to my family abroad and most my overtime goes there. Can this be included on my monthly expenditures? I am not sure if my IP will accept this. I have receipt from my remittances to prove it.
How much are we talking about here? A few hundred, or a few thousand?
Small amounts you may just get away with, but unless you have run this past your IP before you started siphoning surplus money into an untouchable overseas bank account of yours, or held in trust for you by a relative (which is how a cynic may see it), then I would have thought that this would not be regarded as acceptable.
You may therefore be required to repay this money into your IVA, or risk the arrangement failing.
Hopefully, one of the experts here will be able to advise.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
I am sending £150 a month for my brother's tuition fees and allowances. I have done some overtime just to support my brother's education. I don't have a bank account abroad .
You can use your share of overtime earned to send to your family abroad, but not if this is coming out of monies which are rightfully due to creditors.
