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Posted: Fri Jul 01, 2016 3:38 pm
by Stephen.03
Permitted retained income, is there a percentage of your net pay you can keep?
Posted: Fri Jul 01, 2016 3:50 pm
by Foggy
There is no set percentage. The IVA payment is calculated as your essential outgoings, as agreed between yourself, IP and, ultimately, creditors, deducted from your total net income --- the difference being the IVA payment.
Posted: Mon Jul 04, 2016 12:19 pm
by Lisa Thomas
You should be given an allowance to pay your reasonable living expenditure.
As Foggy says the balance after that is what is considered as part of the contributions.
It is up to creditors to decide whether the offer is acceptable.