Is there anywhere that shows what allowances are available when proposing an IVA?
Ideally the allowances that are acceptable for 2017.
I'm trying to work out whether I can afford to live within my means in an IVA but I don't have a clue what expenditure is allowed in an IVA.
For instance how much is allowable for food/petrol/clothes/insurance etc.
Thanks in advance.
I know in our iva we had allowances for hair, dental etc whilst others had pet allowances etc ... each differ so not an easy science I am afraid.
The figures will also be determined by whether they apply to a couple, an adult or a child.
I would work out what you have going out.... being realistic with expenses that allow you to live a descent standard of living.
When you speak to someone i.e an IP or a debt adviser, they will let you know if you are over guidelines on anything. The idea is having a genuine conversation with someone to help work out an income and expenditure that is fair for yourself and the creditors.
Have you spoken to anyone so far regarding your options?
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