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Posted: Wed Nov 07, 2007 11:29 am
by n_h
Please can you tell me i have an IVA and i am looking to start a degree i have found a job that pays enough money to pay for my degree and what i currently pay for the IVa but im worried that if i start it and then they will review my finances and they will want the extra i am earning towards the iva or will they consider that i am paying for a degree! Also everyone seems to be claiming back bank charges over the last 5 years if i am in IVA would you leave it as you are currently not paying any charges or interest or would you try to get them back so it reduce what you owe on your IVa. Please Help! Many Thanks
Posted: Wed Nov 07, 2007 11:50 am
by tracy.h
Hi nh
Welcome to the forum,i would contact your ip and talk to them regarding your degree,as they will be able to give you the advice that you need regarding the extra money you will be earning,and it would be better to know if it is acceptable as regards the iva in financail terms before you go ahead.
As for claiming bank charges i would think carefully regards this as your creditors have written of a percentage of your debts so any money paid would automaticaly have to be handed over to your ip and wouldnt reduce the amount outstanding on your iva.
Im sure one of the technical experts will be along to give you there opinion.
Tracy
Posted: Wed Nov 07, 2007 11:51 am
by MelanieGiles
Hi nh and a warm welcome to the forum
If you are able to maintain your IVA contributions at their current level, and able to produce evidence of the studying costs to your IP, I am sure that this will be deemed to be allowable expenditure.
The issue of claiming bank charges is currently on hold due to the intervention of the FSA and a test case. If this does get resolved and you wish to make a claim, then the proceeds will either be used to reduce that individual bank's specific claim in your IVA or will be a windfall in the IVA.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp