Season Ticket Loan

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ediunia82
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by ediunia82 » Thu Nov 01, 2018 3:58 pm
Hi, I am thinking of applying for season Ticket loan provided by my employer to buy an annual bus pass at £950. It is an interest free loan in a form of cheque which is payable to bus company, after that a 12 monthly wage deductions will be made. Do you think I am allowed to get one while in IVA or not? Many Thanks.
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Foggy
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by Foggy » Thu Nov 01, 2018 4:17 pm
As it would, on the face of it, reduce your travelling costs and, possibly, therefore, increase your disposable income, I would see this as a benefit to creditors, so the IP might allow it ... however, the dynamics of income and expenditure would mean no benefit for you in the grand scheme of things.
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luluj
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by luluj » Thu Nov 01, 2018 8:10 pm
I would hope they would support this positively for you as it does save money in the long run
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Mrs_Brown
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by Mrs_Brown » Thu Nov 01, 2018 8:24 pm
I started mine with my travel paid that way, so I worried about renewal. I emailed my IP and got it in writing that I could renew as the alternative increased my travel costs.
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Lisa Thomas
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by Lisa Thomas » Mon Nov 05, 2018 10:17 am
You wil need consent from your IP for this.

NB any savings made may have to be paid over into the IVA.
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