Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Most definately. The local authority will run a financial check on you, but an IVA does not necessarily affect your ability to foster - so long as you can demonstrate that you have sufficient means to look after a child or children properly. The local authority do pay quite generously towards this, but will expect their money to be used entirely for the children's care and education, and not as a contribution towards your creditors.
Hi, We are foster carers and entered an IVA in March this year. Our IP (Grant Thornton) has taken all our fostering payments as income including the child allowance. Is this incorrect and should they only be taking into account our fee element? Also can anyone advise what happens when we have no children in placement with us and therefore are receiving no money from the authority.
Hi
They should not be using the child element for income purposes, only the reward element.
If your income falls due to not having any foster children then your IVA payments will have to reduce or they will have to be suspended until your income improves
Regards
It is important you ask GT to reassess your income - as Andy says they can only take the reward element into account - the child element is meant to be used for the child itself for their education, clothing and other expenses etc.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
They are right to do it this way as long as they are building into the budget the higher level allowances needed for the children's expenditure and ensure that any reduction on them cannot be requested. This way, it gives the correct information on all income coming into the house but ensures that no additional monies are used for an IVA that shouldn't be.
Stagbar13 make sure your expebnditure allowance reflects what you should be provisioning for the children.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Welcome to the forum, please do contact the GT if you would like us to review your income and expenditure. As Tina as outlined the expenditure allowance should reflect the provision for the children.
Kind Regards
Karol
Its also worth pointing out - depends on how you earn as a foster carer - as after a certain amount added any personal income this will be subject to taxation - so its also worth discussing this with your own allocated social worker, for the updated amount on the allowances,as this will depend on the age and needs of the child,you have with you,and latest in tax
Last edited by ginger3232 on Tue Nov 15, 2011 4:05 pm, edited 1 time in total.
Fingers crossed for you stagbar13 - its a wonderful thing to foster children.
regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
