Hey all and good evening.. just wondering, if I can save abit of extra money from my wages. Such as exspenses added onto my iva but not had to spend, could I put that money a side and save up to pay my iva off myself without being gifted the money?
In theory you can. However, if saved from agreed expenses, this would indicate that your I&E was wrong and the money might be claimed retrospectively and payments going forward from that point increased accordingly. You are supposed to be able to survive on the agreed expenses, not squirrel them away and save more than a few quid a month.
If the money comes from your legitimate share of overtime and bonus payments, which you can document, and the creditors have been getting their share, there should be no problem.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
