Hi
Is it ok in an IVA to put your contingency and any other bits you can scrape together into savings so you can use it when you run into problems?
I thought it was but I've been told today that it's wrong and anything I manage to save should go back to my creditors and made to feel like I was a cheat for trying to build up a bit of a buffer.
As some of you may know, I struggled really hard with the concept of having to go into an iva and spent months feeling worthless and a bad person. I was starting to think maybe I wasn't so bad after all, just about to make payment number 14 and a difficult conversation has made me feel really bad again.
Because hubby works overtime whenever he can - even to the extent of working 13 days in a row of 12.5 hours each day - we've managed to pay extra in but now I just don't know why we're even bothering if we're not allowed to build up a little savings to help us when times are tough,
Sorry for the rant but I am really close to jacking it all in and giving up.
It's quite alright to make savings and IP's encourage it.
Don't feel bad, you're doing really well.
Don't give up, make those savings and take no notice!
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
I thought that was the case but they really put doubt in my mind and as it was coming from someone who should know, it really worried me.
Thanks for your replies, it just upset me the way I got spoken to.
Hey ho - on we go !
I am concerned that this may have been a conversation you had with a member of my team Pap, as I see your annual review was finalised today.
Please contact me either on-line or off if there has been any misunderstandings our end. And if there has, can I say that there is absolutely no problem with you having a savings account for this type of thing. Whatever you manage to save out of your allowances is yours to retain - any requests for uplift payments or increased contributions will only be made in accordance with the terms of your individual arrangements.
I felt bad about hubby's football trip to Hamburg although we have all had to suffer as a result, saving from this allowance and that and the number 1 son will be 13 on Friday and apparently the going rate is £200, I think not!
7 year IVA completed in December 2016 - there is light at the end of that tunnel
