I think most contingency funds are only designed to take care of small unexpected bills, after all, if you put away £15 a month, you would only have £180 at the end of the year. This would not replace most white goods or cover the charges for minor car repairs. (This assuming you have a years worth!)
Be honest, how many people would be able to pay their excess on their car insurance if they had an accident. I fear most people who have a contingency allowance never put it to one side, but have to use it to live on within their monthly budget.
Hi Beans on toast your right there but I didnt realise what michael said is correct because this is my first year in an iva and when I asked for some money for the house repairs I was told sorry but creditors are entitled to 100% but I am going to do it different now I am going to pay for the costs of running the house and expenses and whats left I will send them I notice they didnt tell me that though lol
Make sure and send your IP a copy of your tax return and there will be no argument. I am surprised your IP firm did not explain that legitimate expenses are allowed in any business. Hopefully it will be sorted now.
Hi Michael thank you very much for your help I will do that from now on I really didnt know and have sometimes had to use food money for the smaller things anyway we live and learn thanks again.
