Thinking ahead to my review can anyone advise me on this...
If you save money on the expenditure levels set when the IVA is created, when reviewed would the levels be dropped to match what is being spent.
I am trying to save as much money as I can on monthly expenditure but worry that if the levels are brought down that I will end up worse off long term.
Anything you save on housekeeping and the like is yours and future spending will not be reduced. However if, say, car insurance goes down or you cancel sky, THAT saving will be used to increase D.I or cater for increases elswhere in the budget.
Just because you have had a good few months with the shopping doesn't mean it will last!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I used to do the same, try and save a few pennies here and there...mine was always for a night out, once every 4-6 weeks, only needed £15 but knew that was my goal.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
You will have to put that money into the IVA when the review time is around, but don;t forget that as one bill goes down, another inevitably will go up !
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
Very good advise MrsR, that seems to be the case over and over again, just as you think you are going to make a saving another bill increases and so on...
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
