Eldest hopes to go to university next September. NHS will pay for course but my question surrounds financial help for living costs. Our wages are good and would suggest our ability to support her but of course being in the IVA, we can't.
Do any forum members have any experience or advice please ?
Hopefully by this time your IVA will be completed unless there is equity to be addressed. Having paid for five years creditors may allow the IVA payments to be reduced to allow you to assist or perhaps you could try and do a settlement. If you have equity at this time perhaps consider a secured loan to close the IVA down which would free up cash to help your daughter.
A couple of options and hopefully something can be done to enable you to help your daughter esepcially given her choice of career path.
I was advised by Payplan that any 'educational' costs are an allowed expense but of course you would have to earn the income to pay the costs without it affecting your IVA!
You could consider offering a settlement now which would free up extra cash for your daughter. If you have to this by way of a secured loan you should be able to remortgage the lot down the High Street within two years so may be worth thinking about.
Shaun Vickery at Select has access to these types of products so might be worth considering.
