Do I have to include catalogue?

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julie775

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Post by julie775 » Thu Jul 29, 2021 9:17 am
I’m in an Iva I have a catalogue that ive had for many years. Can my Iva make me include this. I’m not in debt with my catalogue. Also I might get a good condition mobility bonus for handing back my disability car which is £600 a one of payment do I have to tell them please.
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Foggy

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Post by Foggy » Thu Jul 29, 2021 9:52 am
I would imagine that the catalogue account would need to be mentioned, but, as there is no debt there, not be actually included. It would be unwise to use it during the IVA as well. The mobility car refund would also need to be declared and, being over the £500 windfall threshold, will be payable into your IVA.

From your post it would seem that you are already in the IVA and have skirted around the catalogue issue, so, maybe, just leave it dormant in the background for a while. But, like zero balance credit card accounts, the availability of a credit line is as bad as an actual debt and these accounts normally need to be shut down.

Your IP might allow some of the mobility refund to be kept if you can convince him or her of the need to use the money for something of necessity, but I would not count on that.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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size5

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Post by size5 » Fri Jul 30, 2021 2:36 pm
Hi,

You should have included the catalogue, they are extraordinarily expensive but it seems like what's done is done. As for the car payment, if your IVA is protocol compliant, my take on it is that either you can keep £500 and have to pay £100 in, or, if you need to keep it as, say, a deposit on another mobility car (I have to admit that I am not an expert on how the scheme works) then that should be fine also.

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Foggy

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Post by Foggy » Fri Jul 30, 2021 2:53 pm
Hi Size5 --- hope you are keeping well.

On the windfall issue -- I have always understood it (and, indeed, seen it applied this way) that a windfall of up to £499.99 you could keep. If the windfall was £500.01 and above it all went into the IVA. Not that you could keep the first £500 and pay over any excess. Have I (and several IP's) been wrong all these years ?

Always happy to be corrected :?
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

kallis3

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Post by kallis3 » Fri Jul 30, 2021 2:57 pm
The money from motability is given when you hand the car back after 3 years (or 5 if you took out the longer lease or have a WAV car) and the car is in good condition. You will already have another motability car so the money cannot be used as a deposit.
Sharing from experiences of dealing with debt
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Foggy

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Post by Foggy » Fri Jul 30, 2021 2:59 pm
Fri Jul 30, 2021 2:57 pmkallis3 wrote:
The money from motability is given when you hand the car back after 3 years (or 5 if you took out the longer lease or have a WAV car) and the car is in good condition. You will already have another motability car so the money cannot be used as a deposit.
As Kallis says -- this £600 is, basically, a 'reward' for looking after the car ... a 'bonus', if you like.
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

size5

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Post by size5 » Fri Jul 30, 2021 3:05 pm
Hi Foggy, and everyone else. Still above ground so that is always a bonus. I occasionally look in, but don't post unless I have something useful to say (no sniggering at the back.....)

Every IVA I have written in the last few years basically allows debtors to keep the first £500 of any payout, and the rest gets paid in.

Obviously, some I.P's may differ on this, but I would definitely be arguing my corner if that were the case.

Don't forget that an I.P. does have some discretion and are, generally, not ogres.

Kindest regards.
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kallis3

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Post by kallis3 » Fri Jul 30, 2021 3:46 pm
Agreed - I've met a few good ones but some of the big factories now leave a lot to be desired.

As to the £600 - it's a nice little bonus and one we have had over the years (started off at £200) and it does mean that most people will look after the car.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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