www.iva.co.uk

How are the allowances for IVAs calculated ?

Hello and welcome along.

We all have guideline figures that we work with to give us an idea of what is fair and reasonable to allow against expenditure, however each case must be treated on its own merits. For example, if a guideline figure for food, or petrol, or anything else really was exceeded then it would be queried but as long as it was legitimate then it would be perfectly acceptable.

For more specific advice, especially if you are considering an IVA, then you should speak to an IP firm directly, and preferably 2 or 3, who will go through all these sorts of figures with you and then be in a better position to let you know what ALL your options are. It is a rare case indeed that doesn't have more than one option, so you should visit www.iva.com and have a look around there, read reviews etc. Any reputable firm will be happy to have a look at things with you on a no pressure, no obligation basis.

Regards.

Hi
I think most companies use the CCCS guidelines, these are updated each year.
Not sure how the guidelines are put together but hopefully someone from the CCCS will be able to explain
Regards

Hi Andy,
Do you know whether the CCCS publish their guidelines online?

Great to see the forum is still going strong!

Best regards,
Jon

They are definately not published - in fact they are carefully guarded as CCCS do not like people using them as a guideline to setting their own expenditure. CCCS believe that people should honestly declare their individual expenditure, and that the guidelines should be retrospectively applied - and I actually concur with this view, but regularly have to quote guideline figures to my clients.

I believe that CCCS work their figures out based on average expenditure their own clients declare on an annual basis.

Just for information, a friend of mine forwarded this link: http://www.thedebtadvisorintroducers.co ... idance.pdf

Looks very restrictive

Best wishes

Ok many thanks Melanie.

Best
Jon

What you should always do is put down what you spend - your prospective IP will always tell you whether or not it is too much or not.

An IVA which is too restrictive is more likely to fail than one which is not.

Those figures are a little out of date, and there are some on there that don't actually stand up to close scrutiny.

Regards.

I also wonder sometimes where the guidelines come from. As we have a budget of £330 a month for food for 2 adults and one 2yr old, which will be very tight as that works out to be £76 a week!!! When you have to buy nappies with that as well, I think it will be supermarket value food for us from now on!

Hi
The top guideline figure is 392 pounds, where did the 330 come from Kazza ?
Regards

Andy I was told the top guideline for 2 adults is £313 and max for a child is approx £79.

Hi
It is but Kazza has two adults and one child.
Regards

Andy crossed posts...I was a bit quick on the send button lol.

Andy I watched your "Interviews" on your site last night. Interesting viewing...particularly the TIX video.