www.iva.co.uk

Hello is there anywhere I can get a list of what is allowed for expenditure eg weekly food etc , and also I have been advised by my firm that £25 a month is all that is allowable for contingencies for 2 people,being self employed and reliant on a functioning vehicle (which is currently on its last legs) they did not seem to have an answer of how I was supposed to save for a new one?

Hi and welcome,

You should put down exactly what you spend and don't forget to put things down like haircuts, prescriptions, dental etc.

You won't be able to save for a new car unless you can put some money away from your allowances or can get a family member to finance one for you and then you pay them back at the end of the IVA.

Cars bane of an iva life.I went from a quite decent car and now drive an x reg focus cost £650 daughter borrowed us the money with the blessing of our IP paying back £50 a month as we are in year six they said it was ok

i was allowed service mot repairs monthly figures to save

I only had £10 for contingencies, but £25 for car maintenance and repairs.