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Search found 30039 matches Page 1 of 2003
by Foggy
Mon Jan 20, 2020 8:48 pm
Forum: Ask IVA Forum and Industry experts
Topic: Aperture and length of time to complete
Replies: 3
Views: 61

According to recent posts they are still taking 6 months, sometimes more, to complete. The problem is compounded by the fact that they seem to start the '6 month countdown' from when the file crosses the corridor to the closures department -- this journey alone can take a couple of months, it seems !
by Foggy
Mon Jan 20, 2020 2:24 pm
Forum: Ask IVA Forum and Industry experts
Topic: Bonus and 10/50/50
Replies: 8
Views: 215

You are allowed, in extra income (overtime / bonus payments), an amount equivalent to 10% of your agreed take home pay, as agreed at the latest review. The rest is then split 50/50. So, if your take home is normally £1500 and the bonus is £300 before tax and NIC ... assuming 25% deductions, you will...
by Foggy
Mon Jan 20, 2020 10:57 am
Forum: IVA approved!
Topic: Salary sacrifice
Replies: 1
Views: 80

I would hope that the IP will allow the sacrifice amount in your expenses with the proviso that the IVA payment increases by this amount as soon as the loan is repaid --- but then the creditors wil have to agree to this as well. I have seen instances where a sacrifice for a car has been approved. It...
by Foggy
Mon Jan 20, 2020 7:44 am
Forum: Ask IVA Forum and Industry experts
Topic: Will his gambling affect the IVA?
Replies: 2
Views: 130

I am assuming that you are both in interlocking IVA's --- so, yes, it could be a problem, if it has been causing problems with the budget, or likely to do so. Hopefully you can nip this in the bud by taking steps to stop it. Maybe by going to G.A and by blocking himself from online gambling sites. A...
by Foggy
Sun Jan 19, 2020 5:58 pm
Forum: Ask IVA Forum and Industry experts
Topic: Car finance
Replies: 2
Views: 160

I can't imagine why they would request to be joined in the IVA and I am afraid I do not know the ramifications. I imagine the loan was originally excluded being secured on the car. My understanding ( and I could well be wrong) is that, to now have the loan included in the IVA, the finance company wo...
by Foggy
Sun Jan 19, 2020 5:51 pm
Forum: Ask IVA Forum and Industry experts
Topic: PPI claim
Replies: 2
Views: 145

I agree with Kallis, the money will be payable to the IVA.
by Foggy
Sun Jan 19, 2020 10:26 am
Forum: Ask IVA Forum and Industry experts
Topic: Can a business partner be a creditor?
Replies: 2
Views: 193

It would depend on the nature and the formality of the loan between you. Also it isn't a 'given' that associates are excluded. The debt should be included, but, the voting rights of associates are treated differently. They are also, at times (not every time), asked by other creditors to forego their...
by Foggy
Sun Jan 19, 2020 10:21 am
Forum: Ask IVA Forum and Industry experts
Topic: Bonus and 10/50/50
Replies: 8
Views: 215

All is based on money in your pocket. i.e after tax take home pay.
by Foggy
Sat Jan 18, 2020 6:15 pm
Forum: Ask IVA Forum and Industry experts
Topic: Secured loan as await completion certificate?
Replies: 5
Views: 243

A secured loan and a remortgage are two different animals, but the end result is the same, i.e. release of equity.
by Foggy
Sat Jan 18, 2020 4:24 pm
Forum: Ask IVA Forum and Industry experts
Topic: Secured loan as await completion certificate?
Replies: 5
Views: 243

Look at this from the creditors point of view ----- you were unable to remortgage and so had to extend, but now, still technically in the IVA, you can remortgage. If this did happen the IVA could call on the released funds, so not a safe option until such time as you get the completion certificate a...
by Foggy
Sat Jan 18, 2020 4:16 pm
Forum: Ask IVA Forum and Industry experts
Topic: Can you have a overdraft in an iva?
Replies: 3
Views: 263

Have to echo Kallis. Further lending is not allowed without the permission of your IP, which is likely to be not forthcoming. Apart from which reputable lenders will not be willing to lend due to your trashed credit rating. Some arrangements do have a clause allowing borrowing up to £500, but this i...
by Foggy
Sat Jan 18, 2020 10:34 am
Forum: Ask IVA Forum and Industry experts
Topic: Pet costs
Replies: 6
Views: 295

The guideline figures are merely that, guidelines. They can be upped by agreement -- but,you have to get that agreement first. That will depend on the relative figures. If, after everyting has been included, the creditors are still getting a reasonable return, they will be more minded to agree to th...
by Foggy
Fri Jan 17, 2020 8:12 pm
Forum: Ask IVA Forum and Industry experts
Topic: Can’t use PayPal
Replies: 7
Views: 366

They will have closed the account if they were a creditor and might do the same again if they link you to the old account. As long as you pay as you go there should be no problem from the IVA side of things. As far as I am aware you don't need a Paypal account to pay for goods (so their advertising ...
by Foggy
Fri Jan 17, 2020 12:47 pm
Forum: IVA postbag for april
Topic: need some advice quick please if anyone is online
Replies: 14
Views: 2193

Julie give accuma a ring and ask them what to do. Why these people are so aggressive ,at least you are trying to sort something. Try not to get upset just give them a call. Here if you want me Angx Hojoos -- this thread is 13 years old. Thank you for responding, but I would hope the matter is now c...
by Foggy
Fri Jan 17, 2020 8:04 am
Forum: Ask IVA Forum and Industry experts
Topic: Attachment of earnings in an iva
Replies: 1
Views: 383

It depends on what the attachment relates to. If it is recovery of a debt included in the IVA,then no, it is not allowed. Speak to your IP to sort it out. If it is recovery of a new debt, then, yes it is allowed and also could see the IVA failed for taking on new credit. If recovery of something lik...
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