Hi, We have just been accepted on to an IVA and made our first payment this month (August 2014) I have just found out that I have been accepted on to an NHS funded University course and will therefore receive a monthly bursary from September 2014. I will receive approximately £1400 per month, of which approximately £1000 of this is childcare (I have 2 young children that will require full time nursery placements. This will therefore leave me with around £400 extra per month. My question is, how much of this will the creditors be able to take and will they take in to account that I need to buy books, uniform, placement shoes, train fare etc? Obviously I am willing to pay extra in to the IVA, I am just worried that they will take the majority of it. The money is given to me by the NHS as I will be working shifts and studying full time, therefore I will need some money to be able to help me to fund this. I would be grateful for any advice! Thank you.
Thank you for your response Kazza, my outgoings are likely to be different month to month, as some months I will need to purchase more books for example, how do you think they will work out how much extra I will have to pay, would they do it on a month by month basis?
Lesley
Your IP may decide to ignore the bursary as it is needed for specific things like books, travel etc and is not overtime, bonus, commission. As Kazza says you should list what the money is for over the course of a year and no doubt there will be little or nothing left for creditors after the expenses are taken into account.
Well done on being accepted for the course, a great achievement in itself. Hopefully your IP will see that you will require many books I'm sure along with other essential items.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
congratulations on getting a uni place! I hope you get budget sorted with your IP. Is it nursing youre doing? If so shop around for your texts and utilise librarys, hospital based ones usually well stocked and up to date. Students can usually get access to use them so ask around. Make contacts with students in other year groups where possible and buy their second hand texts once no longer needed as long as still relevant. Best of luck with your training!
Thank you so much! That's really good advice, I am going to be studying midwifery Have you studied nursing? Were you on the IVA when you did it by any chance or did it affect your bursary?
