Can I save in an iva?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1

patrick800

User avatar
Posts: 1
Joined: Tue Feb 25, 2020 6:04 am

Post by patrick800 » Tue Feb 25, 2020 6:04 am
Hi I'm currently in an iva and was wondering if I could save while in it?

Foggy

User avatar
Forum Expert
Posts: 31256
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Feb 25, 2020 7:34 am
If your I&E has been done correctly you will not be able to save much, apart from the allowances for car repairs and emergencies, to await those repairs and emergencies, as well as your share of overtime and extra income. Most IPs ( though a rare few have different ideas) will allow modest ( a few quid here and there) savings. But, if you amass too much, they will consider the allowances granted to be too generous and, possibly, amend this at review.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Tue Feb 25, 2020 12:42 pm
It depends where the savings are coming from?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”