I wanted to ask about saving, I sometimes do a good amount of overtime at work and im following 10% 50/50 rule with my IP, I usually put the my (50) into a savings account, Iv seen on this forum that savings are allowed but not big amounts but as sometimes work is extra busy i can save up to £300 a month. would this cause any issues on the long run if continuously save these this amount of money?
I shouldn't think so as these savings are from your share of overtime, rather than an arguably over generous expense allowance. When I was in my IVA it was even a plan put forward by many to use these combined savings for early exit by way of a F&F --- but this was in the days when IPs were generally more client centric. Now the "big boys" have changed the whole ethos of the industry to being more creditor centric.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Welcome back Size5 - nice to see you again. You have been missed.
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
